ResMed Inc. (NYSE:RMD) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $202.80.

Several research analysts have commented on RMD shares. UBS Group raised their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. JPMorgan Chase & Co. raised their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Oppenheimer decreased their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th.

ResMed Stock Performance

NYSE RMD opened at $216.98 on Friday. The firm has a market cap of $31.88 billion, a P/E ratio of 33.33, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $189.86 and its 200-day moving average is $174.00. ResMed has a 12-month low of $132.24 and a 12-month high of $237.26.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts predict that ResMed will post 7.57 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,641 shares of company stock valued at $2,137,958. Corporate insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Large investors have recently bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed in the fourth quarter worth approximately $27,000. Hall Laurie J Trustee bought a new stake in ResMed in the 1st quarter worth $32,000. BOK Financial Private Wealth Inc. purchased a new position in shares of ResMed in the first quarter valued at about $35,000. EverSource Wealth Advisors LLC raised its stake in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the last quarter. Finally, Planned Solutions Inc. bought a new position in shares of ResMed during the fourth quarter valued at about $34,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.