ResMed Inc. (NYSE:RMD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ResMed Inc. (NYSE:RMD) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $202.80.

A number of equities analysts have recently weighed in on RMD shares. Mizuho reissued a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer dropped their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Needham & Company LLC boosted their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, KeyCorp upped 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.

ResMed Stock Down 3.5 %

RMD stock opened at $205.83 on Friday. The company has a market cap of $30.24 billion, a P/E ratio of 31.62, a P/E/G ratio of 2.09 and a beta of 0.68. ResMed has a 52 week low of $132.24 and a 52 week high of $229.97. The company’s 50-day moving average price is $207.76 and its 200 day moving average price is $190.47. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 earnings per share. On average, research analysts expect that ResMed will post 7.7 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.93%. ResMed’s dividend payout ratio is currently 29.49%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00. Following the sale, the chief financial officer now owns 91,056 shares of the company’s stock, valued at $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold 31,151 shares of company stock valued at $6,666,409 in the last quarter. Insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

A number of institutional investors have recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed in the fourth quarter worth $27,000. Operose Advisors LLC acquired a new position in ResMed during the 3rd quarter worth about $32,000. Hall Laurie J Trustee acquired a new position in ResMed during the 1st quarter worth about $32,000. Planned Solutions Inc. acquired a new position in ResMed during the 4th quarter worth about $34,000. Finally, BOK Financial Private Wealth Inc. acquired a new position in ResMed during the 1st quarter worth about $35,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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.