ResMed Inc. (NYSE:RMD) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $244.73.

A number of research firms have recently weighed in on RMD. JPMorgan Chase & Co. raised their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada raised their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company.

ResMed Stock Performance

Shares of RMD stock opened at $236.84 on Monday. The firm has a market cap of $34.77 billion, a P/E ratio of 27.96, a PEG ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The stock’s 50-day moving average is $239.43 and its two-hundred day moving average is $237.19.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating 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%. Analysts predict that ResMed will post 9.41 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed’s payout ratio is 25.03%.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,094 shares of company stock worth $2,704,941. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently made changes to their positions in the business. Peak Financial Advisors LLC bought a new stake in ResMed in the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. boosted its holdings in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares in the last quarter. Retireful LLC bought a new stake in shares of ResMed in the 3rd quarter valued at approximately $742,000. Spire Wealth Management raised its holdings in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after buying an additional 2,878 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.