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

ResMed Inc. (NYSE:RMD) has earned an average recommendation of “Moderate Buy” from the fifteen brokerages that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $270.8182.

Several equities analysts recently issued reports on RMD shares. Evercore set a $255.00 price objective on ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. KeyCorp decreased their price objective on ResMed from $290.00 to $266.00 and set an “overweight” rating for the company in a research report on Monday. Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Finally, Weiss Ratings lowered ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 16,973 shares of company stock valued at $3,580,754 over the last quarter. 0.65% of the stock is owned by insiders.

Institutional Investors Weigh In On ResMed

Institutional investors and hedge funds have recently made changes to their positions in the stock. Imprint Wealth LLC bought a new stake in shares of ResMed during the 3rd quarter worth approximately $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed during the 4th quarter worth approximately $25,000. ORG Partners LLC raised its stake in shares of ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in shares of ResMed during the 3rd quarter worth approximately $31,000. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

ResMed stock opened at $196.34 on Thursday. The firm has a market capitalization of $28.48 billion, a P/E ratio of 18.93, a PEG ratio of 1.22 and a beta of 0.80. ResMed has a 1 year low of $180.26 and a 1 year high of $293.81. The business has a 50-day moving average of $204.53 and a 200-day moving average of $231.80. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06.

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

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s payout ratio is currently 23.14%.

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.