ResMed Inc. (NYSE:RMD) Receives $263.08 Consensus Target Price from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average recommendation of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $253.50.

A number of research firms recently issued reports on RMD. Citigroup reaffirmed a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a report on Sunday. Mizuho reduced their price objective on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Finally, KeyCorp cut their target price on shares of ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research note on Monday, June 22nd.

ResMed Price Performance

Shares of NYSE:RMD opened at $198.46 on Monday. The stock has a market cap of $28.79 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed has a 12 month low of $180.26 and a 12 month high of $293.81. The stock’s 50 day moving average price is $199.64 and its 200 day moving average price is $227.13.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is currently 23.14%.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $101,893,036.65. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 14,973 shares of company stock valued at $3,096,067. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Imprint Wealth LLC purchased a new position in ResMed in the 3rd quarter worth about $26,000. WFA of San Diego LLC purchased a new stake in ResMed during the second quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in ResMed during the fourth quarter valued at about $25,000. ORG Partners LLC boosted its holdings in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 69 shares during the period. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed in the third quarter worth about $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

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.