Latest Stocks: ResMed Inc. (RMD) Earns “Hold” Rating from BMO Capital Markets

Latest Stocks: ResMed Inc. (RMD) Earns “Hold” Rating from BMO Capital Markets

ResMed Inc. (NYSE:RMD)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a research report issued on Friday, May 12th.

Several other analysts also recently weighed in on the company. Citigroup Inc downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 target price on shares of ResMed in a research report on Friday, April 28th. JPMorgan Chase & Co. downgraded ResMed from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $72.00 to $71.00 in a research report on Thursday, April 20th. William Blair reiterated an “outperform” rating on shares of ResMed in a research report on Thursday, April 13th. Finally, Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. ResMed presently has a consensus rating of “Hold” and an average price target of $63.75.

ResMed (NYSE:RMD) opened at 72.75 on Friday. The firm has a market capitalization of $10.32 billion, a PE ratio of 31.91 and a beta of 0.82. The stock’s 50 day moving average is $69.57 and its 200-day moving average is $67.51. ResMed has a 52-week low of $56.59 and a 52-week high of $73.46.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. ResMed had a return on equity of 22.82% and a net margin of 16.48%. The business had revenue of $514.20 million during the quarter, compared to the consensus estimate of $525.84 million. During the same period in the prior year, the company earned $0.68 EPS. ResMed’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts expect that ResMed will post $2.80 earnings per share for the current year. The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, May 9th. This represents a $1.32 annualized dividend and a yield of 1.81%. ResMed’s dividend payout ratio is currently 57.39%.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.01. ResMed had a return on equity of 22.82% and a net margin of 16.48%. The business had revenue of $514.20 million during the quarter, compared to the consensus estimate of $525.84 million. During the same period in the prior year, the company earned $0.68 EPS. ResMed’s revenue for the quarter was up 13.3% on a year-over-year basis. Equities analysts expect that ResMed will post $2.80 earnings per share for the current year. In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $71.02, for a total value of $88,775.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Hollingshead sold 7,139 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $68.37, for a total value of $488,093.43. Following the completion of the sale, the insider now directly owns 44,934 shares of the company’s stock, valued at approximately $3,072,137.58. The disclosure for this sale can be found here. Insiders have sold 63,619 shares of company stock valued at $4,438,937 in the last ninety days. 1.97% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock worth $959,731,000 after buying an additional 13,094,421 shares in the last quarter. Norges Bank bought a new position in ResMed during the fourth quarter worth $88,128,000. Congress Asset Management Co. MA bought a new position in ResMed during the fourth quarter worth $53,661,000. Capital World Investors raised its position in ResMed by 7.3% in the third quarter. Capital World Investors now owns 8,497,000 shares of the medical equipment provider’s stock worth $550,521,000 after buying an additional 580,766 shares in the last quarter. Finally, Morgan Stanley raised its position in ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock worth $96,744,000 after buying an additional 549,279 shares in the last quarter. 62.51% of the stock is owned by hedge funds and other institutional investors. About ResMed

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