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

Shares of ResMed Inc. (NYSE:RMD) have earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have 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 $246.83.

RMD has been the topic of a number of recent research reports. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Stifel Nicolaus lowered their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th.

ResMed Stock Performance

Shares of RMD stock opened at $222.95 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 26.32, a PEG ratio of 1.53 and a beta of 0.74. ResMed has a one year low of $172.19 and a one year high of $263.05. The company’s 50-day simple moving average is $234.76 and its 200-day simple moving average is $238.83.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts anticipate that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $104,394,182.40. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 over the last quarter. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ResMed

Several hedge funds have recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its position in ResMed by 12.2% in the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock worth $1,697,000 after buying an additional 755 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of ResMed in the 3rd quarter worth $244,000. Cerity Partners LLC raised its position in shares of ResMed by 82.0% during the third quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock worth $3,341,000 after purchasing an additional 6,167 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of ResMed by 15.6% during the third quarter. Summit Trail Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock valued at $365,000 after purchasing an additional 202 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of ResMed by 11.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 23,799 shares of the medical equipment provider’s stock valued at $5,810,000 after purchasing an additional 2,389 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

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.