Resmed Inc. (NYSE: RMD) has a higher price-to-earnings ratio of 31.39x compared to its average ratio, The 36-month beta value for RMD is at 0.68. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 1 rating it as “overweight,” 2 as “hold,” and 3 as “sell.”
The public float for RMD is 145.92M, and currently, shorts hold a 5.41% of that float. The average trading volume for RMD on April 12, 2024 was 1.02M shares.
RMD) stock’s latest price update
The stock of Resmed Inc. (NYSE: RMD) has decreased by -2.21 when compared to last closing price of 193.80.Despite this, the company has seen a gain of 2.44% in its stock price over the last five trading days. GlobeNewsWire reported 2024-04-04 that SAN DIEGO, April 04, 2024 (GLOBE NEWSWIRE) — ResMed (NYSE: RMD, ASX: RMD) today announced it plans to release financial and operational results for the third quarter of fiscal year 2024 on Thursday, April 25, 2024, after the New York Stock Exchange closes. Following the release, ResMed management will host a webcast to discuss the results. Other forward-looking and material information may also be discussed during the webcast.
RMD’s Market Performance
RMD’s stock has risen by 2.44% in the past week, with a monthly drop of -2.20% and a quarterly rise of 6.89%. The volatility ratio for the week is 2.36% while the volatility levels for the last 30 days are 1.91% for Resmed Inc. The simple moving average for the last 20 days is -0.98% for RMD’s stock, with a simple moving average of 8.80% for the last 200 days.
Analysts’ Opinion of RMD
Many brokerage firms have already submitted their reports for RMD stocks, with KeyBanc Capital Markets repeating the rating for RMD by listing it as a “Overweight.” The predicted price for RMD in the upcoming period, according to KeyBanc Capital Markets is $227 based on the research report published on February 06, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see RMD reach a price target of $169, previously predicting the price at $180. The rating they have provided for RMD stocks is “Overweight” according to the report published on October 27th, 2023.
RBC Capital Mkts gave a rating of “Sector Perform” to RMD, setting the target price at $202 in the report published on October 12th of the previous year.
RMD Trading at 1.26% from the 50-Day Moving Average
After a stumble in the market that brought RMD to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -22.18% of loss for the given period.
Volatility was left at 1.91%, however, over the last 30 days, the volatility rate increased by 2.36%, as shares sank -1.54% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -0.98% lower at present.
During the last 5 trading sessions, RMD rose by +2.44%, which changed the moving average for the period of 200-days by -11.65% in comparison to the 20-day moving average, which settled at $191.23. In addition, Resmed Inc. saw 10.17% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at RMD starting from Rider Michael J, who sale 81 shares at the price of $180.00 back on Mar 04 ’24. After this action, Rider Michael J now owns 6,607 shares of Resmed Inc., valued at $14,580 using the latest closing price.
Rider Michael J, the Global General Counsel of Resmed Inc., sale 200 shares at $173.25 during a trade that took place back on Mar 01 ’24, which means that Rider Michael J is holding 6,688 shares at $34,650 based on the most recent closing price.
Stock Fundamentals for RMD
Current profitability levels for the company are sitting at:
- 0.26 for the present operating margin
- 0.57 for the gross margin
The net margin for Resmed Inc. stands at 0.2. The total capital return value is set at 0.19. Equity return is now at value 21.66, with 13.11 for asset returns.
Based on Resmed Inc. (RMD), the company’s capital structure generated 0.24 points at debt to capital in total, while cash flow to debt ratio is standing at 0.78. The debt to equity ratio resting at 0.31. The interest coverage ratio of the stock is -19.43.
Currently, EBITDA for the company is 1.34 billion with net debt to EBITDA at 0.83. When we switch over and look at the enterprise to sales, we see a ratio of 6.66. The receivables turnover for the company is 5.98for trailing twelve months and the total asset turnover is 0.63. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.11.
Conclusion
In conclusion, Resmed Inc. (RMD) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
