In yesterday’s Wall Street session, ResMed Inc. (NYSE:RMD) shares traded at $225.97, up 0.26% from the previous session.
21 analysts cover ResMed Inc. (NYSE:RMD), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $280.46 and a low of $221.44, we find $245.00. Given the previous closing price of $225.38, this indicates a potential upside of 8.71 percent. RMD stock price is now 3.94% away from the 50-day moving average and 2.76% away from the 200-day moving average. The market capitalization of the company currently stands at $32.48B.
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The stock has received a hold rating from 5 analysts and a buy rating from 11. Brokers who have rated the stock have averaged $248.99 as their price target over the next twelve months.
With the price target maintained at $245, JP Morgan recently Upgraded its rating from Neutral to Overweight for ResMed Inc. (NYSE: RMD)., while ‘BofA Securities’ rates the stock as ‘Buy’.
In other news, Douglas Robert Andrew, President and COO sold 1,500 shares of the company’s stock on Jan 17. The stock was sold for $330,645 at an average price of $220.43. Upon completion of the transaction, the President and COO now directly owns 226,208 shares in the company, valued at $51.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 17, Chief Executive Officer Farrell Michael J. sold 5,675 shares of the business’s stock. A total of $1,273,269 was realized by selling the stock at an average price of $224.36. This leaves the insider owning 436,900 shares of the company worth $98.73 million. Insiders disposed of 267,662 shares of company stock worth roughly $60.48 million over the past 1 year. A total of 0.70% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RMD stock. A new stake in ResMed Inc. shares was purchased by ALYESKA INVESTMENT GROUP, L.P. during the first quarter worth $46,325,000. STRS OHIO invested $11,299,000 in shares of RMD during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in ResMed Inc. valued at approximately $9,256,000. PENDAL GROUP LTD acquired a new stake in RMD for approximately $6,937,000. BROOKFIELD CORP /ON/ purchased a new stake in RMD valued at around $6,329,000 in the second quarter. In total, there are 1,017 active investors with 67.40% ownership of the company’s stock.
On Wednesday morning ResMed Inc. (NYSE: RMD) stock kicked off with the opening price of $230.00. During the past 12 months, ResMed Inc. has had a low of $189.40 and a high of $262.38. As of last week, the company has a debt-to-equity ratio of 0.23, a current ratio of 2.90, and a quick ratio of 1.70. The fifty day moving average price for RMD is $217.40 and a two-hundred day moving average price translates $219.89 for the stock.
The latest earnings results from ResMed Inc. (NYSE: RMD) was released for Jun, 2022. According to the Medical Instruments & Supplies Company, earnings per share came in at $1.51, missing analysts’ expectations of $1.52 by -0.01. This compares to $1.39 EPS in the same period last year. The net profit margin was 21.70% and return on equity was 23.80% for RMD. The company reported revenue of $950.29 million for the quarter, compared to $904.01 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.12 percent. For the current quarter, analysts expect RMD to generate $982.48M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 11/10/2022 were paid a $0.44 dividend. On an annualized basis, this represents a $1.76 dividend and a 0.78% percent yield. There was an ex-dividend date of 11/09/2022 for this dividend. In terms of dividend payout ratio, RMD is presently at 31.60%.
ResMed Inc.(RMD) 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 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. The company also provides AirView, a cloud-based system that enables remote monitoring and changing of patients’ device settings; myAir, a personalized therapy management application for patients with sleep apnea that provides support, education, and troubleshooting tools for increased patient engagement and improved compliance; U-Sleep, a compliance monitoring solution that enables home medical equipment (HME)to streamline their sleep programs; connectivity module and propeller solutions; and Propeller portal. It offers out-of-hospital software solution, such as Brightree business management software and service solutions to providers of HME, pharmacy, home infusion, orthotics, and prosthetics services; MatrixCare care management and related ancillary solutions to senior living, skilled nursing, life plan communities, home health, home care, and hospice organizations, as well as related accountable care organizations; and HEALTHCAREfirst that offers electronic health record, software, billing and coding services, and analytics for home health and hospice agencies. The company markets its products primarily to sleep clinics, home healthcare dealers, and hospitals through a network of distributors and direct sales force in approximately 140 countries. ResMed Inc. was founded in 1989 and is headquartered in San Diego, California.
