ResMed Inc. (NYSE:RMD) Stock Has Average Price Target of $243.23

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $243.23.

A number of equities analysts have commented on RMD shares. Rothschild & Co Redburn assumed coverage on shares of ResMed in a research report on Wednesday, August 19th. They set a “neutral” rating and a $230.00 price objective for the company. Jefferies Financial Group dropped their price target on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, July 10th. KeyCorp upped their target price on ResMed from $255.00 to $267.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. UBS Group reaffirmed a “buy” rating and set a $300.00 price target on shares of ResMed in a research note on Tuesday, July 21st. Finally, Citigroup reaffirmed a “neutral” rating on shares of ResMed in a research report on Thursday, September 10th.

Insider Activity

In other news, Director Peter Farrell sold 970 shares of ResMed stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $234.73, for a total value of $227,688.10. Following the transaction, the director directly owned 51,803 shares of the company’s stock, valued at $12,159,718.19. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $226.33, for a total transaction of $1,129,613.03. Following the completion of the transaction, the chief executive officer owned 479,803 shares in the company, valued at $108,593,812.99. The trade was a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,943 shares of company stock valued at $5,294,098 over the last 90 days. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc purchased a new stake in shares of ResMed during the second quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new position in shares of ResMed in the second quarter valued at $39,000. Kelleher Financial Advisors purchased a new position in shares of ResMed in the second quarter valued at $47,000. Ballast Advisors LLC acquired a new stake in ResMed during the 1st quarter valued at $84,000. Finally, Harbor Investment Advisory LLC grew its holdings in ResMed by 82.6% during the 2nd quarter. Harbor Investment Advisory LLC now owns 409 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 185 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 0.1%

NYSE:RMD opened at $252.79 on Wednesday. The stock’s 50 day moving average price is $229.70 and its 200 day moving average price is $215.26. The company has a market capitalization of $35.55 billion, a PE ratio of 22.66, a P/E/G ratio of 1.55 and a beta of 0.75. 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 has a 52-week low of $180.26 and a 52-week high of $277.67.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, research analysts anticipate that ResMed will post 12.11 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. ResMed’s payout ratio is currently 25.31%.

About ResMed

ResMed Inc is a medical equipment and software company that develops solutions for sleep-disordered breathing, respiratory conditions and other chronic diseases. The company is best known for its positive airway pressure (PAP) devices used to treat obstructive sleep apnea, along with masks, accessories and related patient support services.

ResMed also provides cloud-connected health technology, including remote-monitoring platforms and software used by healthcare providers, medical equipment suppliers and care organizations.