ResMed (NYSE:RMD) Reaches New 52-Week Low – What’s Next?

Shares of ResMed Inc. (NYSE:RMD) hit a new 52-week low on Thursday . The stock traded as low as $218.03 and last traded at $218.75, with a volume of 222520 shares. The stock had previously closed at $222.04.

Analysts Set New Price Targets

RMD has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Evercore set a $255.00 price target on ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Robert W. Baird set a $281.00 price target on ResMed in a research note on Friday, January 30th. Citigroup reduced their price target on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Finally, KeyCorp reissued an “overweight” rating and issued a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $295.17.

ResMed Stock Performance

The stock has a market capitalization of $31.97 billion, a PE ratio of 21.70, a PEG ratio of 1.46 and a beta of 0.93. The business has a 50 day moving average price of $237.70 and a 200 day moving average price of $249.06. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32.

ResMed (NYSE:RMD) last released its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the firm posted $2.43 earnings per share. The company’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts expect that ResMed Inc. will post 11.05 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s dividend payout ratio is currently 23.74%.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $225.50, for a total value of $1,125,470.50. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $105,133,286.50. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,023 shares of company stock worth $5,230,857. Insiders own 0.65% of the company’s stock.

Institutional Trading of ResMed

Institutional investors have recently made changes to their positions in the stock. SJS Investment Consulting Inc. boosted its holdings in shares of ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of ResMed during the 4th quarter valued at about $25,000. ORG Partners LLC boosted its holdings in shares of ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Imprint Wealth LLC purchased a new stake in shares of ResMed during the 3rd quarter valued at about $26,000. Finally, WFA of San Diego LLC purchased a new stake in shares of ResMed during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.