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

Shares of ResMed Inc. (NYSE:RMD) have been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $225.70.

RMD has been the subject of a number of research reports. KeyCorp increased their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th.

ResMed Stock Performance

Shares of RMD opened at $238.04 on Wednesday. The firm has a market capitalization of $34.94 billion, a PE ratio of 31.53, a P/E/G ratio of 1.71 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $242.33 and a 200 day moving average price of $223.97. ResMed has a 52-week low of $148.03 and a 52-week high of $260.49.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that ResMed will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio is currently 28.08%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the sale, the chief financial officer now owns 96,812 shares of the company’s stock, valued at approximately $23,856,413.04. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,174 shares of company stock worth $14,882,278. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Marshall Wace LLP acquired a new position in ResMed in the second quarter worth approximately $77,285,000. Geode Capital Management LLC raised its position in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Greenvale Capital LLP raised its position in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its stake in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares during the last quarter. 54.98% of the stock is currently 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. 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.