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

Shares of ResMed Inc. (NYSE:RMD) have been assigned a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $244.73.

Several analysts recently weighed in on RMD shares. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus initiated coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. The Goldman Sachs Group initiated coverage on ResMed in a research report on Thursday, January 16th. They issued a “buy” rating on the stock. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday.

Insider Activity

In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock valued at $2,702,687 in the last ninety days. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently bought and sold shares of RMD. Geode Capital Management LLC increased its stake in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after buying an additional 380,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares in the last quarter. Nordea Investment Management AB increased its stake in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after buying an additional 215,561 shares in the last quarter. State Street Corp increased its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its stake in ResMed by 3,266.5% in the 4th quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider’s stock worth $23,766,000 after buying an additional 100,836 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

ResMed stock opened at $236.66 on Monday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $34.74 billion, a P/E ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. The stock’s 50 day moving average is $240.17 and its 200 day moving average is $236.41. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. On average, equities research analysts predict that ResMed will post 9.35 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed’s payout ratio is 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.