ResMed Inc. (RMD) Receives Consensus Rating of “Hold” from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average recommendation of “Hold” from the thirteen research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $72.25.

Several research firms have weighed in on RMD. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research report on Friday, February 2nd. Needham & Company LLC raised ResMed from an “underperform” rating to a “hold” rating in a report on Tuesday, January 23rd. Northland Securities raised ResMed from an “under perform” rating to a “market perform” rating in a report on Tuesday, January 23rd. BMO Capital Markets boosted their target price on ResMed to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, January 23rd. Finally, Barclays boosted their target price on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, October 27th.

In other news, Director Ronald R. Taylor sold 4,885 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $99.71, for a total transaction of $487,083.35. Following the completion of the sale, the director now directly owns 21,751 shares in the company, valued at approximately $2,168,792.21. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James Hollingshead sold 7,019 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $84.16, for a total value of $590,719.04. Following the sale, the insider now owns 66,409 shares of the company’s stock, valued at $5,588,981.44. The disclosure for this sale can be found here. Insiders sold a total of 49,802 shares of company stock valued at $4,824,727 over the last 90 days. 1.77% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in RMD. Toronto Dominion Bank lifted its position in shares of ResMed by 12.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 197 shares during the last quarter. Pillar Pacific Capital Management LLC lifted its position in shares of ResMed by 1.2% during the 4th quarter. Pillar Pacific Capital Management LLC now owns 43,755 shares of the medical equipment provider’s stock worth $3,706,000 after buying an additional 540 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in shares of ResMed by 3.6% during the 4th quarter. Mutual of America Capital Management LLC now owns 16,890 shares of the medical equipment provider’s stock worth $1,430,000 after buying an additional 591 shares during the last quarter. WINTON GROUP Ltd lifted its position in shares of ResMed by 8.6% during the 3rd quarter. WINTON GROUP Ltd now owns 8,076 shares of the medical equipment provider’s stock worth $622,000 after buying an additional 640 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in shares of ResMed by 26.7% during the 3rd quarter. Advisor Group Inc. now owns 3,164 shares of the medical equipment provider’s stock worth $244,000 after buying an additional 667 shares during the last quarter. Hedge funds and other institutional investors own 61.41% of the company’s stock.

ResMed (NYSE:RMD) traded up $1.79 during trading hours on Friday, hitting $91.05. The company’s stock had a trading volume of 814,244 shares, compared to its average volume of 892,937. The firm has a market cap of $13,233.62, a price-to-earnings ratio of 45.53 and a beta of 0.92. ResMed has a 52-week low of $67.04 and a 52-week high of $104.78.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.22. The firm had revenue of $601.27 million for the quarter, compared to analyst estimates of $583.77 million. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. sell-side analysts predict that ResMed will post 3.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 8th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $1.40 annualized dividend and a yield of 1.54%. ResMed’s dividend payout ratio (DPR) is presently 70.00%.

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About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

Analyst Recommendations for ResMed (NYSE:RMD)

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