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

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $299.2727.

Several analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. UBS Group restated a “buy” rating and set a $345.00 price target on shares of ResMed in a report on Friday, December 12th. Citigroup increased their price objective on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $127,642,532.94. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director owned 64,773 shares in the company, valued at $16,278,102.63. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,137 shares of company stock valued at $4,658,832. Insiders own 0.65% of the company’s stock.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently bought and sold shares of RMD. Jones Financial Companies Lllp grew its stake in shares of ResMed by 52.6% in the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares during the last quarter. IFP Advisors Inc increased its holdings in ResMed by 101.4% during the 2nd quarter. IFP Advisors Inc now owns 745 shares of the medical equipment provider’s stock valued at $192,000 after acquiring an additional 375 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in ResMed by 28.9% in the 2nd quarter. Apollon Wealth Management LLC now owns 1,915 shares of the medical equipment provider’s stock valued at $494,000 after buying an additional 429 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in shares of ResMed by 2.7% in the second quarter. Concurrent Investment Advisors LLC now owns 2,226 shares of the medical equipment provider’s stock valued at $574,000 after buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 5.3%

Shares of RMD opened at $245.93 on Friday. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $35.83 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87. The stock has a fifty day simple moving average of $252.63 and a two-hundred day simple moving average of $263.09. ResMed has a 52-week low of $199.92 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the company posted $2.43 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. As a group, equities analysts forecast that ResMed will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

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.