ResMed Inc. (NYSE:RMD) Receives $225.70 Average PT from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $225.70.

Several research firms recently commented on RMD. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp boosted their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th.

ResMed Stock Performance

RMD opened at $249.99 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed has a 12-month low of $151.95 and a 12-month high of $260.49. The business has a 50 day moving average of $241.80 and a 200-day moving average of $225.04. The stock has a market cap of $36.70 billion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.82 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $1.64 EPS. On average, equities research analysts expect that ResMed will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Insider Activity

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,334 shares of company stock worth $16,379,713 in the last quarter. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in ResMed by 738.4% during the 3rd quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock worth $25,617,000 after purchasing an additional 92,422 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of ResMed in the 3rd quarter worth $193,000. World Investment Advisors LLC purchased a new stake in shares of ResMed in the third quarter valued at about $541,000. Sanctuary Advisors LLC lifted its position in shares of ResMed by 19.7% during the third quarter. Sanctuary Advisors LLC now owns 7,265 shares of the medical equipment provider’s stock valued at $1,771,000 after purchasing an additional 1,197 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

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.