ResMed Inc. (NYSE:RMD) Receives $244.73 Consensus Target Price from Analysts

ResMed Inc. (NYSE:RMD) has received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $244.73.

A number of brokerages have recently issued reports on RMD. Stifel Nicolaus initiated coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Piper Sandler upped their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st.

ResMed Stock Up 0.9 %

Shares of NYSE RMD opened at $233.32 on Friday. The stock has a market cap of $34.27 billion, a PE ratio of 27.55, a P/E/G ratio of 1.53 and a beta of 0.70. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed has a 12-month low of $170.56 and a 12-month high of $263.05. The company has a 50-day moving average of $237.06 and a 200 day moving average of $239.95.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts predict that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,073 shares of company stock worth $2,887,326. Company insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC increased its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in ResMed during the fourth quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.