Weekly Research Analysts’ Ratings Changes for ResMed (RMD)

Several brokerages have updated their recommendations and price targets on shares of ResMed (NYSE: RMD) in the last few weeks:

• 9/13/2023 – ResMed had its price target lowered by analysts at Mizuho from $255.00 to $180.00. They now have a “buy” rating on the stock.
• 9/6/2023 – ResMed was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating.
• 9/5/2023 – ResMed was downgraded by analysts at UBS Group AG from a “buy” rating to a “neutral” rating.
• 8/24/2023 – ResMed was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
• 8/17/2023 – ResMed is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/14/2023 – ResMed had its price target lowered by analysts at Royal Bank of Canada from $284.00 to $273.00. They now have an “outperform” rating on the stock.
• 8/4/2023 – ResMed had its price target lowered by analysts at KeyCorp from $280.00 to $260.00. They now have an “overweight” rating on the stock.
• 8/4/2023 – ResMed had its price target lowered by analysts at Bank of America Co. from $260.00 to $250.00. They now have a “buy” rating on the stock.
• 8/1/2023 – ResMed was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating. They now have a $284.00 price target on the stock, up previously from $262.00.

ResMed Trading Down 1.8 %

Shares of ResMed stock opened at $146.34 on Thursday. ResMed Inc. has a 1 year low of $146.05 and a 1 year high of $243.52. The company’s fifty day simple moving average is $187.89 and its 200-day simple moving average is $208.62. The company has a market cap of $21.52 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 2.31 and a beta of 0.52. The company has a current ratio of 3.12, a quick ratio of 1.81 and a debt-to-equity ratio of 0.35.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.07). The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.14 billion. ResMed had a return on equity of 24.94% and a net margin of 21.25%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.49 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 7.07 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.48 per share. This is a boost from ResMed’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.31%. ResMed’s payout ratio is currently 31.48%.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 500 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. Following the completion of the transaction, the insider now directly owns 11,787 shares of the company’s stock, valued at $2,593,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other ResMed news, insider Kaushik Ghoshal sold 500 shares of ResMed stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. Following the completion of the transaction, the insider now directly owns 11,787 shares of the company’s stock, valued at $2,593,140. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $183.20, for a total value of $1,039,660.00. Following the sale, the chief executive officer now directly owns 436,930 shares of the company’s stock, valued at $80,045,576. The disclosure for this sale can be found here. Insiders sold a total of 14,900 shares of company stock valued at $3,021,246 over the last three months. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in ResMed by 1.6% during the second quarter. State Street Corp now owns 6,388,113 shares of the medical equipment provider’s stock worth $1,395,803,000 after acquiring an additional 99,617 shares during the period. WCM Investment Management LLC boosted its position in ResMed by 0.7% during the 2nd quarter. WCM Investment Management LLC now owns 3,504,371 shares of the medical equipment provider’s stock valued at $768,719,000 after buying an additional 22,791 shares during the period. Geode Capital Management LLC grew its position in shares of ResMed by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 3,328,725 shares of the medical equipment provider’s stock worth $725,598,000 after buying an additional 96,840 shares during the last quarter. Ownership Capital B.V. boosted its holdings in ResMed by 7.9% in the second quarter. Ownership Capital B.V. now owns 1,508,014 shares of the medical equipment provider’s stock valued at $329,501,000 after acquiring an additional 110,659 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in ResMed by 3.5% in the fourth quarter. JPMorgan Chase & Co. now owns 1,326,430 shares of the medical equipment provider’s stock worth $276,071,000 after buying an additional 45,381 shares during the period. Institutional investors own 63.79% of the company’s stock.

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.