ResMed Inc. (NYSE:RMD) Receives $204.70 Consensus PT from Analysts

ResMed Inc. (NYSE:RMD) has been given a consensus recommendation of “Moderate Buy” by the eleven brokerages that are currently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $204.70.

A number of research analysts recently weighed in on the company. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Needham & Company LLC restated a “buy” rating and set a $236.00 price target on shares of ResMed in a report on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.

Insider Transactions at ResMed

In related news, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $211.66, for a total transaction of $3,107,803.78. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $93,299,516.34. The disclosure for this sale can be found here. Insiders sold a total of 95,049 shares of company stock valued at $20,122,695 over the last 90 days. Company insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMD. Atlantic Edge Private Wealth Management LLC bought a new position in ResMed during the fourth quarter valued at approximately $27,000. Hall Laurie J Trustee purchased a new stake in ResMed during the first quarter valued at approximately $32,000. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. purchased a new position in shares of ResMed in the 1st quarter worth approximately $35,000. Finally, Versant Capital Management Inc increased its position in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.2 %

Shares of ResMed stock opened at $227.75 on Monday. ResMed has a 1 year low of $132.24 and a 1 year high of $228.02. The firm has a market cap of $33.46 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 2.26 and a beta of 0.66. The company has a 50-day moving average of $205.73 and a 200 day moving average of $199.26. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed will post 8.72 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.93%. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. ResMed’s payout ratio is presently 29.49%.

About ResMed

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.