ResMed Inc. (NYSE:RMD) Given Average Rating of “Moderate Buy” by Analysts

ResMed Inc. (NYSE:RMD) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $225.70.

Several equities research analysts have issued reports on the stock. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America raised their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th.

Insider Transactions at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $246.42, for a total transaction of $246,420.00. Following the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at approximately $23,856,413.04. This represents a 1.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. This trade represents a 2.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,174 shares of company stock valued at $14,882,278. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

Hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the period. OFI Invest Asset Management acquired a new stake in shares of ResMed in the second quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the third quarter valued at approximately $34,000. Versant Capital Management Inc boosted its position in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in shares of ResMed during the second quarter worth approximately $37,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

Shares of ResMed stock opened at $238.04 on Wednesday. The business’s fifty day moving average price is $242.33 and its 200 day moving average price is $223.97. ResMed has a twelve month low of $148.03 and a twelve month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $34.94 billion, a P/E ratio of 31.53, a PEG ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 EPS. As a group, research analysts anticipate that ResMed will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.