ResMed (NYSE:RMD) Upgraded by Baird R W to “Strong-Buy”

Baird R W upgraded shares of ResMed (NYSE:RMD) to a strong-buy rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

A number of other research firms have also recently issued reports on RMD. StockNews.com cut shares of ResMed from a buy rating to a hold rating in a research report on Friday, August 30th. KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price objective on ResMed from $204.00 to $206.00 and gave the company a sector perform rating in a report on Friday, August 2nd. Oppenheimer lowered ResMed from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. Finally, Wolfe Research reiterated an underperform rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $212.25.

ResMed Stock Down 1.5 %

NYSE RMD opened at $239.00 on Tuesday. The business has a fifty day moving average price of $230.00 and a two-hundred day moving average price of $210.84. The stock has a market capitalization of $35.11 billion, a PE ratio of 37.11, a PEG ratio of 2.45 and a beta of 0.69. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. ResMed’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.60 earnings per share. Equities analysts expect that ResMed will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s dividend payout ratio is 32.57%.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The disclosure for this sale can be found here. Insiders have sold a total of 102,931 shares of company stock worth $22,644,807 over the last quarter. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in ResMed in the 2nd quarter valued at $32,000. BOK Financial Private Wealth Inc. bought a new position in shares of ResMed in the first quarter valued at $35,000. Versant Capital Management Inc grew its holdings in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed during the second quarter worth about $37,000. Finally, Riverview Trust Co acquired a new stake in shares of ResMed in the 1st quarter worth about $42,000. Institutional investors own 54.98% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.