The stock price of Resmed Inc. (NYSE: RMD) has plunged by -3.07 when compared to previous closing price of 218.27, but the company has seen a -3.81% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-05-23 that Among 26 ResMed-supported abstracts, these were the highlights: New findings show positive airway pressure (PAP) therapy reduced risks of death and hospitalization for patients with obstructive sleep apnea (OSA) Prevalence of OSA in the United States expected to increase 26.7% in men and women aged 30 –70 Real-world trends of glucagon-like peptide-1 (GLP-1) receptor agonist and PAP therapy use show patients who were adherent to their GLP-1 medication had higher levels of PAP therapy use than those who were non-adherent to their GLP-1 medication SAN DIEGO, May 23, 2024 (GLOBE NEWSWIRE) — A number of accomplished medical and scientific experts presented critical new research on sleep conditions and their effect on cardiovascular health at the American Thoracic Society International Conference. The ResMed-supported research provided new insights into the effectiveness of PAP therapy in treating sleep-disordered breathing and its associated clinical benefits.
Is It Worth Investing in Resmed Inc. (NYSE: RMD) Right Now?
The price-to-earnings ratio for Resmed Inc. (NYSE: RMD) is above average at 32.56x, Company’s 36-month beta value is 0.70.Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 1 as “overweight,” 2 as “hold,” and 3 as “sell.”
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The public float for RMD is 145.80M, and currently, short sellers hold a 6.76% ratio of that floaft. The average trading volume of RMD on May 24, 2024 was 1.09M shares.
RMD’s Market Performance
RMD’s stock has seen a -3.81% decrease for the week, with a 15.13% rise in the past month and a 14.96% gain in the past quarter. The volatility ratio for the week is 1.89%, and the volatility levels for the past 30 days are at 2.40% for Resmed Inc. The simple moving average for the last 20 days is -1.77% for RMD stock, with a simple moving average of 22.74% 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 6.22% 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 -8.00% of loss for the given period.
Volatility was left at 2.40%, however, over the last 30 days, the volatility rate increased by 1.89%, as shares surge +15.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +9.93% upper at present.
During the last 5 trading sessions, RMD fell by -3.81%, which changed the moving average for the period of 200-days by +18.02% in comparison to the 20-day moving average, which settled at $216.79. In addition, Resmed Inc. saw 23.00% 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 De Witte Jan, who sale 360 shares at the price of $218.29 back on May 15 ’24. After this action, De Witte Jan now owns 7,519 shares of Resmed Inc., valued at $78,584 using the latest closing price.
Sandercock Brett, the Chief Financial Officer of Resmed Inc., sale 13,000 shares at $211.37 during a trade that took place back on May 08 ’24, which means that Sandercock Brett is holding 92,056 shares at $2,747,810 based on the most recent closing price.
Stock Fundamentals for RMD
Current profitability levels for the company are sitting at:
- 0.27 for the present operating margin
- 0.57 for the gross margin
The net margin for Resmed Inc. stands at 0.22. The total capital return value is set at 0.2. Equity return is now at value 22.39, with 14.17 for asset returns.
Based on Resmed Inc. (RMD), the company’s capital structure generated 0.18 points at debt to capital in total, while cash flow to debt ratio is standing at 1.16. The debt to equity ratio resting at 0.22. The interest coverage ratio of the stock is -22.18.
Currently, EBITDA for the company is 1.34 billion with net debt to EBITDA at 0.62. When we switch over and look at the enterprise to sales, we see a ratio of 7.2. The receivables turnover for the company is 5.44for trailing twelve months and the total asset turnover is 0.65. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.04.
Conclusion
In a nutshell, Resmed Inc. (RMD) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
