ResMed (NYSE:RMD) Receives Underperform Rating from Wolfe Research

Wolfe Research reiterated their underperform rating on shares of ResMed (NYSE:RMD) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. Wolfe Research currently has a $180.00 price objective on the medical equipment provider’s stock.

A number of other brokerages have also recently commented on RMD. Oppenheimer cut shares of ResMed from an outperform rating to a market perform rating in a research note on Tuesday, June 25th. Citigroup cut shares of ResMed from a buy rating to a neutral rating in a research note on Monday, June 24th. StockNews.com cut shares of ResMed from a buy rating to a hold rating in a research note on Friday, August 30th. Needham & Company LLC restated a hold rating on shares of ResMed in a research note on Wednesday. Finally, KeyCorp raised their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of Hold and a consensus price target of $199.70.

ResMed Stock Up 0.8 %

NYSE RMD opened at $244.94 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a 50-day simple moving average of $226.91 and a 200 day simple moving average of $209.44. ResMed has a twelve month low of $132.24 and a twelve month high of $255.18. The stock has a market cap of $35.98 billion, a PE ratio of 37.63, a PEG ratio of 2.50 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. On average, research analysts forecast that ResMed will post 8.92 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is currently 32.57%.

Insider Activity at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other ResMed news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of ResMed 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 sale, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock valued at $22,644,807 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

A number of institutional investors have recently bought and sold shares of the business. Dorsey & Whitney Trust CO LLC grew its holdings in ResMed by 3.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after acquiring an additional 52 shares during the period. QRG Capital Management Inc. boosted its position in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. Inspire Advisors LLC boosted its position in shares of ResMed by 1.9% during the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after purchasing an additional 56 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of ResMed by 1.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after purchasing an additional 60 shares in the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of ResMed by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after purchasing an additional 66 shares in the last quarter. Institutional investors and hedge funds 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.