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

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average rating of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $297.4545.

Several analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research note on Wednesday. Morgan Stanley set a $305.00 price objective on ResMed in a report on Friday, October 31st. Robert W. Baird reduced their target price on ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Finally, Mizuho decreased their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 31st.

Insider Activity

In other ResMed news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total transaction of $27,436.00. Following the sale, the general counsel directly owned 11,327 shares in the company, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $252.05, for a total transaction of $504,100.00. Following the completion of the transaction, the director directly owned 66,110 shares in the company, valued at approximately $16,663,025.50. The trade was a 2.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,662 shares of company stock worth $5,443,526 in the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several large investors have recently made changes to their positions in the stock. SJS Investment Consulting Inc. boosted its stake in ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares during the period. Imprint Wealth LLC bought a new stake in shares of ResMed in the third quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed during the second quarter worth about $26,000. Sunbelt Securities Inc. acquired a new position in shares of ResMed during the third quarter worth about $31,000. Finally, Westside Investment Management Inc. grew its holdings in shares of ResMed by 100.0% during the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $253.30 on Friday. The business’s 50-day simple moving average is $261.55 and its 200 day simple moving average is $263.52. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The stock has a market cap of $36.97 billion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.75 and a beta of 0.87. ResMed has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last released its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the company posted $2.20 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts anticipate that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. ResMed’s payout ratio is currently 24.56%.

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.