ResMed Inc. (NYSE:RMD) Receives Average Rating of “Hold” from Analysts

Shares of ResMed Inc. (NYSE:RMD) have been given an average recommendation of “Hold” by the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $240.1667.

A number of equities analysts have commented on RMD shares. Robert W. Baird set a $213.00 target price on shares of ResMed in a research note on Friday, August 7th. UBS Group restated a “buy” rating and set a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. KeyCorp reduced their price target on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Wells Fargo & Company decreased their price objective on ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Friday, August 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $230.00 price objective (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the sale, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,973 shares of company stock worth $4,885,436. Corporate insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RMD. Jones Financial Companies Lllp raised 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 acquiring an additional 994 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of ResMed during the 2nd quarter worth approximately $389,000. Brown Advisory Inc. boosted its position in shares of ResMed by 17.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 240 shares during the period. Cresset Asset Management LLC acquired a new stake in ResMed in the 2nd quarter valued at approximately $206,000. Finally, Alliancebernstein L.P. increased its holdings in ResMed by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock valued at $73,808,000 after purchasing an additional 55,790 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.4%

Shares of RMD opened at $226.99 on Friday. ResMed has a 52-week low of $180.26 and a 52-week high of $293.81. The company has a market capitalization of $32.93 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The stock has a fifty day simple moving average of $203.43 and a two-hundred day simple moving average of $221.11. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter in the previous year, the company posted $2.55 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. As a group, equities analysts forecast that ResMed will post 12.03 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a $0.66 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is presently 23.01%.

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.