Needham & Company LLC Reiterates Hold Rating for ResMed (NYSE:RMD)

Needham & Company LLC reiterated their hold rating on shares of ResMed (NYSE:RMD) in a report released on Friday morning,Benzinga reports.

Other analysts also recently issued reports about the company. Piper Sandler assumed coverage on ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price target for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. Robert W. Baird lifted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 8.1 %

Shares of NYSE RMD opened at $236.66 on Friday. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05. The stock has a market capitalization of $34.74 billion, a PE ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $240.32 and a 200-day simple moving average of $235.99.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. On average, equities analysts forecast that ResMed will post 9.35 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Activity at ResMed

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,030 shares of company stock worth $2,702,687 in the last three months. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of ResMed during the 3rd quarter worth $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed during the 4th quarter worth $54,000. Capital Performance Advisors LLP acquired a new position in shares of ResMed during the 3rd quarter worth $60,000. Finally, Quarry LP raised its stake in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares during 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. 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.