Recent Analysts’ Ratings Changes for ResMed (RMD)

Posted by Lauren Steadman on Nov 14th, 2024

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

10/25/2024 – ResMed had its price target raised by analysts at Royal Bank of Canada from $224.00 to $232.00. They now have a “sector perform” rating on the stock.
10/25/2024 – ResMed had its price target raised by analysts at KeyCorp from $251.00 to $266.00. They now have an “overweight” rating on the stock.
10/25/2024 – ResMed had its price target raised by analysts at Robert W. Baird from $280.00 to $283.00. They now have an “outperform” rating on the stock.
10/25/2024 – ResMed had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
10/15/2024 – ResMed was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
10/1/2024 – ResMed had its price target raised by analysts at Royal Bank of Canada from $206.00 to $224.00. They now have a “sector perform” rating on the stock.
10/1/2024 – ResMed had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
9/26/2024 – ResMed had its price target raised by analysts at Bank of America Co. from $240.00 to $270.00. They now have a “buy” rating on the stock.
9/24/2024 – ResMed was upgraded by analysts at Baird R W to a “strong-buy” rating.
9/24/2024 – ResMed is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $280.00 price target on the stock.
9/18/2024 – ResMed had its “underperform” rating reaffirmed by analysts at Wolfe Research. They now have a $180.00 price target on the stock.
9/18/2024 – ResMed had its “hold” rating reaffirmed by analysts at Needham & Company LLC.

ResMed Stock Performance

Shares of NYSE:RMD traded down $4.01 on Thursday, hitting $231.43. The company’s stock had a trading volume of 1,084,137 shares, compared to its average volume of 1,048,771. ResMed Inc. has a 12 month low of $147.31 and a 12 month high of $260.49. The company has a market capitalization of $33.97 billion, a price-to-earnings ratio of 30.65, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. The stock’s 50-day moving average is $243.30 and its two-hundred day moving average is $223.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD – Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business posted $1.64 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities research analysts forecast that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. ResMed’s dividend payout ratio (DPR) is 28.08%.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was 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 represents a 10.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. This represents a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 63,056 shares of company stock worth $15,086,020 in the last quarter. 0.71% of the stock is owned by company insiders.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 52 shares during the last quarter. QRG Capital Management Inc. raised its position in ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 56 shares during the last quarter. Inspire Advisors LLC raised its position in ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 56 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 57 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.