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

ResMed Inc. (NYSE:RMD) has earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $199.20.

Several research firms recently commented on RMD. Royal Bank of Canada raised their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Oppenheimer increased their price target on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. JPMorgan Chase & Co. increased their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. KeyCorp initiated coverage on ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 price target on the stock. Finally, UBS Group increased their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th.

ResMed Stock Down 0.4 %

ResMed stock opened at $185.09 on Tuesday. The firm has a market cap of $27.22 billion, a price-to-earnings ratio of 30.59, a price-to-earnings-growth ratio of 2.30 and a beta of 0.67. ResMed has a 52 week low of $132.24 and a 52 week high of $243.52. The business’s 50-day moving average price is $186.79 and its 200 day moving average price is $169.88. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.81 by $0.07. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company earned $1.66 earnings per share. As a group, sell-side analysts anticipate that ResMed will post 7.45 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Insider Activity

In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock worth $2,046,617 over the last quarter. 1.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. increased its stake in ResMed by 15.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock worth $740,000 after acquiring an additional 414 shares during the last quarter. Cibc World Market Inc. increased its stake in ResMed by 13.0% during the first quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock worth $243,000 after acquiring an additional 115 shares during the last quarter. Vontobel Holding Ltd. increased its stake in ResMed by 14.5% during the first quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock worth $2,020,000 after acquiring an additional 1,025 shares during the last quarter. Sei Investments Co. increased its stake in ResMed by 7.8% during the first quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock worth $9,781,000 after acquiring an additional 2,955 shares during the last quarter. Finally, Prudential PLC acquired a new stake in ResMed during the first quarter worth $694,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.