ResMed (RMD) Receives New Coverage from Analysts at Goldman Sachs Group

Share on StockTwits

Goldman Sachs Group initiated coverage on shares of ResMed (NYSE:RMD) in a report published on Sunday morning, The Fly reports. The firm issued a buy rating on the medical equipment provider’s stock.

RMD has been the topic of a number of other reports. Zacks Investment Research upgraded shares of ResMed from a hold rating to a buy rating and set a $107.00 price target on the stock in a research report on Tuesday, March 6th. UBS Group cut shares of ResMed from a buy rating to a neutral rating in a report on Tuesday, April 24th. William Blair restated an outperform rating on shares of ResMed in a report on Monday, April 16th. Citigroup cut shares of ResMed from a buy rating to a neutral rating in a report on Wednesday, April 4th. Finally, Needham & Company LLC restated a hold rating on shares of ResMed in a report on Wednesday, March 7th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. The company has an average rating of Hold and an average price target of $76.67.

Shares of NYSE RMD opened at $103.58 on Friday. ResMed has a one year low of $71.29 and a one year high of $108.29. The company has a current ratio of 3.48, a quick ratio of 2.85 and a debt-to-equity ratio of 0.39. The company has a market cap of $14.78 billion, a price-to-earnings ratio of 36.73 and a beta of 0.93.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 26th. The medical equipment provider reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. ResMed had a net margin of 13.52% and a return on equity of 23.72%. The business had revenue of $591.60 million for the quarter, compared to analysts’ expectations of $575.75 million. During the same period last year, the business earned $0.71 earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. sell-side analysts predict that ResMed will post 3.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Stockholders of record on Thursday, May 10th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Wednesday, May 9th. ResMed’s dividend payout ratio is 49.65%.

In related news, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction on Monday, April 16th. The shares were sold at an average price of $99.36, for a total value of $198,720.00. Following the sale, the chief financial officer now owns 71,072 shares in the company, valued at $7,061,713.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider James Hollingshead sold 600 shares of ResMed stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $94.69, for a total transaction of $56,814.00. Following the completion of the sale, the insider now owns 61,261 shares in the company, valued at approximately $5,800,804.09. The disclosure for this sale can be found here. Insiders sold 69,626 shares of company stock worth $6,979,679 in the last 90 days. Company insiders own 1.77% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RMD. Wells Fargo & Company MN boosted its holdings in ResMed by 5.8% in the fourth quarter. Wells Fargo & Company MN now owns 214,978 shares of the medical equipment provider’s stock valued at $18,206,000 after acquiring an additional 11,876 shares in the last quarter. American International Group Inc. lifted its position in ResMed by 11.0% during the fourth quarter. American International Group Inc. now owns 50,242 shares of the medical equipment provider’s stock valued at $4,255,000 after buying an additional 4,971 shares during the period. OppenheimerFunds Inc. purchased a new position in ResMed during the fourth quarter valued at $349,000. Amalgamated Bank lifted its position in ResMed by 5.1% during the fourth quarter. Amalgamated Bank now owns 30,150 shares of the medical equipment provider’s stock valued at $2,553,000 after buying an additional 1,476 shares during the period. Finally, Geode Capital Management LLC lifted its position in ResMed by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 1,730,716 shares of the medical equipment provider’s stock valued at $146,312,000 after buying an additional 75,419 shares during the period. Institutional investors and hedge funds own 62.21% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

The Fly

Analyst Recommendations for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply