Analysts Set ResMed Inc. (NYSE:RMD) Target Price at $227.91

ResMed Inc. (NYSE:RMD) has received an average recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $227.91.

Several equities analysts have commented on RMD shares. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company.

ResMed Price Performance

RMD stock opened at $237.27 on Friday. The stock has a market cap of $34.83 billion, a PE ratio of 31.43, a P/E/G ratio of 1.73 and a beta of 0.68. ResMed has a 12 month low of $164.12 and a 12 month high of $260.49. The company has a 50-day moving average price of $242.72 and a 200 day moving average price of $228.58. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $1.64 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that ResMed will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. This represents a 16.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of the firm’s 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 completion of the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,725 shares of company stock valued at $11,253,448 over the last quarter. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Versor Investments LP increased its holdings in shares of ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 3,600 shares in the last quarter. Assenagon Asset Management S.A. grew its position in ResMed by 245.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after purchasing an additional 23,801 shares during the last quarter. Retireful LLC acquired a new position in ResMed during the 3rd quarter valued at approximately $742,000. Asset Management One Co. Ltd. raised its holdings in shares of ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after buying an additional 2,878 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of ResMed by 284.3% during the third quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after buying an additional 6,072 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

About ResMed

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.