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

ResMed Inc. (NYSE:RMD) has earned an average rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $218.18.

A number of equities analysts recently issued reports on RMD shares. KeyCorp increased their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 87,204 shares of the company’s stock, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,248 shares of company stock worth $20,091,478 over the last 90 days. 1.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after acquiring an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC increased its position in shares of ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the last quarter. Marshall Wace LLP bought a new position in shares of ResMed in the 2nd quarter worth approximately $77,285,000. Greenvale Capital LLP boosted its holdings in shares of ResMed by 198.3% in the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock worth $94,938,000 after buying an additional 366,901 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in ResMed during the second quarter valued at approximately $42,036,000. 54.98% of the stock is owned by institutional investors.

ResMed Price Performance

Shares of RMD stock opened at $232.29 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The firm has a market cap of $34.13 billion, a P/E ratio of 35.68, a P/E/G ratio of 2.16 and a beta of 0.69. The business’s 50 day moving average price is $234.03 and its 200-day moving average price is $213.10.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $1.60 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s payout ratio is 32.57%.

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.