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

ResMed Inc. (NYSE:RMD) has been given an average rating of “Moderate Buy” by the fifteen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, seven have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $243.82.

RMD has been the topic of several analyst reports. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, KeyCorp upped their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,186 shares of company stock valued at $4,996,646. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

A number of large investors have recently bought and sold shares of RMD. International Assets Investment Management LLC grew its stake in ResMed by 24,311.9% during the third quarter. International Assets Investment Management LLC now owns 26,609 shares of the medical equipment provider’s stock worth $6,496,000 after buying an additional 26,500 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in ResMed by 31.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,254 shares of the medical equipment provider’s stock worth $2,212,000 after buying an additional 2,212 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in ResMed by 35.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock worth $1,775,000 after buying an additional 1,893 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in ResMed by 16.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 31,923 shares of the medical equipment provider’s stock worth $7,590,000 after buying an additional 4,507 shares in the last quarter. Finally, Pallas Capital Advisors LLC grew its stake in ResMed by 56.0% during the third quarter. Pallas Capital Advisors LLC now owns 2,017 shares of the medical equipment provider’s stock worth $482,000 after buying an additional 724 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of RMD opened at $225.08 on Friday. ResMed has a 12 month low of $172.19 and a 12 month high of $263.05. The firm has a fifty day simple moving average of $236.72 and a 200 day simple moving average of $239.80. The stock has a market capitalization of $33.06 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.53 and a beta of 0.70. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts forecast that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

About ResMed

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.