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

ResMed Inc. (NYSE:RMD) has been given a consensus rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $202.80.

A number of equities research analysts have issued reports on RMD shares. Needham & Company LLC upped their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. UBS Group raised their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. KeyCorp boosted their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada boosted their price target on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th.

ResMed Price Performance

RMD stock opened at $212.89 on Friday. The company has a market capitalization of $31.28 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The company’s fifty day moving average price is $192.67 and its 200-day moving average price is $176.28. ResMed has a one year low of $132.24 and a one year high of $237.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business posted $1.68 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts anticipate that ResMed will post 7.59 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio is presently 29.49%.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Karen Drexler sold 425 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now owns 8,446 shares in the company, valued at $1,815,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,641 shares of company stock worth $2,137,958. Corporate insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. EverSource Wealth Advisors LLC lifted its holdings in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new stake in ResMed during the 4th quarter valued at approximately $27,000. Operose Advisors LLC purchased a new stake in shares of ResMed in the 3rd quarter valued at $32,000. Hall Laurie J Trustee acquired a new stake in shares of ResMed in the first quarter worth $32,000. Finally, Planned Solutions Inc. purchased a new position in shares of ResMed during the fourth quarter worth $34,000. Hedge funds and other institutional investors 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. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.