ResMed (NYSE:RMD) Shares Up 4.4% – What’s Next?

ResMed Inc. (NYSE:RMD) shares traded up 4.4% during mid-day trading on Monday . The company traded as high as $243.37 and last traded at $242.76. Approximately 611,825 shares traded hands during trading, a decline of 37% from the average session volume of 968,424 shares. The stock had previously closed at $232.44.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RMD shares. Stifel Nicolaus dropped their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler raised their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Stock Up 2.1 %

The firm has a market cap of $34.87 billion, a PE ratio of 28.03, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company’s 50-day simple moving average is $236.70 and its two-hundred day simple moving average is $240.04.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio is currently 25.03%.

Insider Activity

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,186 shares of company stock valued at $4,996,646. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

Hedge funds have recently made changes to their positions in the company. True Wealth Design LLC lifted its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. Colonial Trust Co SC increased its stake in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed during the 4th quarter valued at about $33,000. Ashton Thomas Securities LLC bought a new stake in ResMed during the third quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. grew its holdings in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the period. 54.98% of the stock is currently owned by institutional investors.

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.