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

Shares of ResMed Inc. (NYSE:RMD) have received an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat 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 target price among brokers that have updated their coverage on the stock in the last year is $199.20.

Several brokerages have issued reports on RMD. Oppenheimer upped their target price on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 30th. JPMorgan Chase & Co. upped their target price on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. KeyCorp began coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price for the company. Royal Bank of Canada upped their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC increased their price objective on ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research note on Monday, April 1st.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the firm’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction 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 transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction 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 transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last quarter. 1.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On ResMed

Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of ResMed by 13.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after acquiring an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL bought a new position in shares of ResMed during the fourth quarter valued at $29,322,000. Synergy Asset Management LLC increased its holdings in shares of ResMed by 29.2% during the fourth quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock valued at $11,935,000 after acquiring an additional 15,663 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of ResMed by 20.2% during the third quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock valued at $230,000 after acquiring an additional 261 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of ResMed by 3.4% during the fourth quarter. Nordea Investment Management AB now owns 9,753 shares of the medical equipment provider’s stock valued at $1,682,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Down 0.4 %

RMD stock opened at $185.09 on Tuesday. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $186.79 and its 200 day moving average is $169.88. The stock 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 1-year low of $132.24 and a 1-year high of $243.52.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 earnings per share. Sell-side analysts predict that ResMed will post 7.45 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is 31.74%.

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.