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

Shares of ResMed Inc. (NYSE:RMD) have received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $273.00.

RMD has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. Robert W. Baird set a $225.00 target price on ResMed in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Morgan Stanley reaffirmed an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday. Finally, Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd.

Insider Activity at ResMed

In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 16,973 shares of company stock valued at $3,580,754. 0.65% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in ResMed during the fourth quarter valued at $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC bought a new position in ResMed during the third quarter valued at $26,000. WFA of San Diego LLC bought a new position in ResMed during the second quarter valued at $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed during the third quarter valued at $31,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Performance

Shares of RMD opened at $186.48 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock has a 50 day moving average price of $208.33 and a two-hundred day moving average price of $233.92. The firm has a market capitalization of $27.05 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.24 and a beta of 0.80. ResMed has a 52 week low of $180.26 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 EPS. Equities analysts forecast that ResMed will post 11.13 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. ResMed’s dividend payout ratio is currently 23.14%.

ResMed Company Profile

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.