ResMed (NYSE:RMD) Sets New 1-Year Low - What's Next?

ResMed Inc. (NYSE:RMD - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $215.30 and last traded at $217.2260, with a volume of 1547125 shares traded. The stock had previously closed at $222.02.

Wall Street Analyst Weigh In

Several research firms have issued reports on RMD. Piper Sandler upped their price objective on ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. Evercore set a $255.00 price objective on ResMed and gave the stock an "outperform" rating in a report on Monday, April 13th. JPMorgan Chase & Co. began coverage on ResMed in a report on Wednesday, April 15th. They set an "overweight" rating on the stock. Wells Fargo & Company upped their price objective on ResMed from $265.00 to $270.00 and gave the stock an "equal weight" rating in a report on Friday, January 30th. Finally, Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $294.55.

ResMed Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock's 50-day moving average is $235.14 and its 200 day moving average is $247.17. The firm has a market cap of $31.65 billion, a P/E ratio of 21.49, a PEG ratio of 1.46 and a beta of 0.93.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same quarter in the prior year, the company earned $2.43 EPS. The firm's quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 11.05 earnings per share for the current year.

ResMed Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the company's 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 4,991 shares of the company's stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $225.50, for a total transaction of $1,125,470.50. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company's stock, valued at approximately $105,133,286.50. This represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 21,023 shares of company stock valued at $5,230,857. 0.65% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Large investors have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 86 shares in the last quarter. International Assets Investment Management LLC bought a new position in ResMed during the 4th quarter worth about $25,000. ORG Partners LLC increased its holdings in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC bought a new position in ResMed during the 3rd quarter worth about $26,000. Finally, WFA of San Diego LLC bought a new position in ResMed during the 2nd quarter worth about $26,000. Institutional investors own 54.98% of the company's stock.

ResMed Company Profile

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.

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