ResMed (NYSE:RMD) Sees Strong Trading Volume

ResMed Inc. (NYSE:RMD - Get Free Report) shares saw strong trading volume on Wednesday . 2,218,542 shares changed hands during trading, an increase of 125% from the previous session's volume of 986,227 shares.The stock last traded at $173.08 and had previously closed at $184.86.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Needham & Company LLC boosted their price target on ResMed from $215.00 to $224.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. UBS Group boosted their target price on ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their target price on ResMed from $181.00 to $182.00 and gave the stock a "sector perform" rating in a report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a report on Tuesday, January 9th. Finally, KeyCorp assumed coverage on ResMed in a report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $199.20.

ResMed Trading Down 6.0 %

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The business has a fifty day simple moving average of $186.42 and a 200 day simple moving average of $170.17. The stock has a market capitalization of $25.57 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm posted $1.66 EPS. The company's revenue for the quarter was up 12.5% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 7.46 EPS for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. ResMed's payout ratio is 31.74%.

Insider Activity

In other news, General Counsel Michael J. Rider sold 200 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the company's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company's stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last three months, insiders sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is currently owned by company insiders.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of ResMed during the fourth quarter valued at about $233,966,000. Morgan Stanley boosted its stake in shares of ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider's stock valued at $344,481,000 after purchasing an additional 1,178,547 shares in the last quarter. LGT Capital Partners LTD. acquired a new stake in shares of ResMed during the fourth quarter valued at about $117,621,000. FIL Ltd boosted its stake in shares of ResMed by 245.9% during the fourth quarter. FIL Ltd now owns 840,030 shares of the medical equipment provider's stock valued at $144,502,000 after purchasing an additional 597,165 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider's stock valued at $98,823,000 after purchasing an additional 485,540 shares in the last quarter. 54.98% of the stock is currently owned by 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.