ResMed Inc. (NYSE:RMD) Given Average Rating of “Moderate Buy” by Analysts

ResMed Inc. (NYSE:RMD) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $296.0909.

RMD has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. UBS Group restated a “buy” rating and set a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Mizuho cut their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Robert W. Baird restated a “neutral” rating and set a $275.00 price objective (down from $300.00) on shares of ResMed in a research note on Tuesday, December 16th. Finally, KeyCorp lifted their target price on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday, October 31st.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total value of $497,660.00. Following the completion of the sale, the director directly owned 66,773 shares in the company, valued at $16,615,125.59. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the transaction, the director directly owned 4,261 shares in the company, valued at $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 21,594 shares of company stock valued at $5,403,495 over the last 90 days. Insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Frank Rimerman Advisors LLC grew its stake in shares of ResMed by 90.5% during the fourth quarter. Frank Rimerman Advisors LLC now owns 2,517 shares of the medical equipment provider’s stock worth $606,000 after acquiring an additional 1,196 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its stake in ResMed by 30.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 4,310 shares of the medical equipment provider’s stock worth $1,038,000 after purchasing an additional 1,009 shares in the last quarter. Silver Oak Securities Incorporated boosted its stake in ResMed by 3.0% in the 4th quarter. Silver Oak Securities Incorporated now owns 6,883 shares of the medical equipment provider’s stock worth $1,673,000 after purchasing an additional 199 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in ResMed by 6.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 9,615 shares of the medical equipment provider’s stock worth $2,354,000 after purchasing an additional 593 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its stake in ResMed by 1.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 56,291 shares of the medical equipment provider’s stock valued at $13,559,000 after purchasing an additional 813 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of ResMed stock opened at $257.71 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $249.44 and its 200-day moving average price is $263.31. The firm has a market cap of $37.61 billion, a P/E ratio of 26.38, a P/E/G ratio of 1.73 and a beta of 0.88. ResMed has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. On average, equities research analysts expect that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s payout ratio is presently 24.56%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.