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

Shares of ResMed Inc. (NYSE:RMD) have been assigned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $244.73.

Several research firms have weighed in on RMD. Royal Bank of Canada boosted their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st.

Insider Activity

In related news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,094 shares of company stock worth $2,704,941 over the last three months. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RMD. Howard Capital Management Inc. boosted its stake in shares of ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 45 shares in the last quarter. UMB Bank n.a. boosted its position in shares of ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares during the period. Ascent Group LLC increased its stake in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake 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 valued at $637,000 after buying an additional 51 shares in the last quarter. Finally, Wedmont Private Capital lifted its stake in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $236.84 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market capitalization of $34.78 billion, a price-to-earnings ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70. ResMed has a one year low of $170.56 and a one year high of $263.05. The company’s 50-day simple moving average is $239.18 and its 200-day simple moving average is $237.59.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts anticipate that ResMed will post 9.44 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio (DPR) is 25.03%.

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.