ResMed (NYSE:RMD) PT Lowered to $180.00 at Mizuho

ResMed (NYSE:RMD) had its price objective trimmed by Mizuho from $255.00 to $180.00 in a report released on Wednesday, MarketBeat reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

RMD has been the topic of a number of other reports. Needham & Company LLC raised ResMed from a hold rating to a buy rating in a report on Wednesday, September 6th. KeyCorp cut their price target on ResMed from $280.00 to $260.00 and set an overweight rating for the company in a research note on Friday, August 4th. Bank of America cut their price target on ResMed from $260.00 to $250.00 and set a buy rating for the company in a research note on Friday, August 4th. UBS Group lowered ResMed from a buy rating to a neutral rating in a research note on Tuesday, September 5th. Finally, Royal Bank of Canada cut their price target on ResMed from $284.00 to $273.00 and set an outperform rating for the company in a research note on Monday, August 14th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $251.14.

ResMed Stock Performance

RMD stock opened at $145.39 on Wednesday. The stock’s 50 day simple moving average is $185.13 and its 200 day simple moving average is $207.70. The stock has a market capitalization of $21.38 billion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 2.27 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 has a 12-month low of $145.00 and a 12-month high of $243.52.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.07). The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.14 billion. ResMed had a net margin of 21.25% and a return on equity of 24.94%. ResMed’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.49 earnings per share. As a group, research analysts forecast that ResMed will post 7.08 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be paid a $0.48 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, August 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.32%. ResMed’s payout ratio is 31.48%.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 500 shares of the company’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. Following the transaction, the insider now directly owns 11,787 shares of the company’s stock, valued at $2,593,140. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Robert Andrew Douglas sold 1,500 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $222.22, for a total value of $333,330.00. Following the transaction, the chief operating officer now directly owns 252,026 shares of the company’s stock, valued at approximately $56,005,217.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 500 shares of the company’s 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 sale, the insider now directly owns 11,787 shares in the company, valued at $2,593,140. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,900 shares of company stock valued at $3,021,246. Corporate insiders own 1.39% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of ResMed during the 3rd quarter worth about $26,000. Compass Wealth Management LLC purchased a new stake in shares of ResMed during the 4th quarter worth about $26,000. Creative Financial Designs Inc. ADV lifted its stake in ResMed by 72.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 131 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 55 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in ResMed in the 2nd quarter valued at about $32,000. Finally, WFA of San Diego LLC purchased a new position in ResMed in the 2nd quarter valued at about $44,000. 63.79% of the stock is owned by hedge funds and other institutional investors.

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.