ResMed (NYSE:RMD) Now Covered by Analysts at Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of ResMed (NYSE:RMD - Free Report) in a report issued on Friday morning, Marketbeat reports. The firm issued a hold rating and a $250.00 price objective on the medical equipment provider's stock.

A number of other research analysts have also weighed in on the company. Wolfe Research reissued an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Bank of America raised their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a report on Friday, October 25th. Finally, Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.91.

ResMed Stock Performance

RMD stock traded down $3.99 during trading on Friday, reaching $238.52. The company had a trading volume of 580,293 shares, compared to its average volume of 1,019,118. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 31.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. ResMed has a twelve month low of $164.12 and a twelve month high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The firm has a 50-day simple moving average of $242.65 and a 200-day simple moving average of $227.27.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that ResMed will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed's dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 6,160 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company's stock, valued at $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the transaction, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. This trade represents a 2.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock worth $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Marshall Wace LLP purchased a new stake in ResMed during the 2nd quarter valued at about $77,285,000. Geode Capital Management LLC raised its holdings in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Greenvale Capital LLP raised its holdings in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock worth $69,281,000 after purchasing an additional 249,454 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.