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

ResMed Inc. (NYSE:RMDGet Rating) has received a consensus rating of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $267.13.

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of ResMed in a report on Thursday, March 31st. They set a “buy” rating for the company. JPMorgan Chase & Co. raised shares of ResMed from a “neutral” rating to an “overweight” rating and raised their price target for the company from $260.00 to $270.00 in a report on Monday, January 24th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday, January 31st. Robert W. Baird lowered their price target on shares of ResMed from $300.00 to $280.00 in a report on Friday, January 28th. Finally, Royal Bank of Canada upgraded shares of ResMed from an “underperform” rating to a “sector perform” rating and increased their price objective for the company from $234.00 to $241.00 in a research note on Friday, January 28th.

ResMed stock opened at $234.21 on Friday. ResMed has a 52-week low of $187.09 and a 52-week high of $301.34. The firm has a fifty day moving average of $243.88 and a 200-day moving average of $250.65. The firm has a market capitalization of $34.25 billion, a P/E ratio of 65.97, a PEG ratio of 2.39 and a beta of 0.33. The company has a quick ratio of 1.54, a current ratio of 2.49 and a debt-to-equity ratio of 0.21.

ResMed (NYSE:RMDGet Rating) last released its quarterly earnings data on Thursday, January 27th. The medical equipment provider reported $1.47 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.47. The company had revenue of $894.60 million during the quarter, compared to analyst estimates of $927.49 million. ResMed had a net margin of 15.16% and a return on equity of 28.12%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.41 earnings per share. On average, research analysts expect that ResMed will post 6.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 17th. Stockholders of record on Thursday, February 10th were given a $0.42 dividend. The ex-dividend date was Wednesday, February 9th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.72%. ResMed’s payout ratio is currently 47.32%.

In other news, CFO Brett Sandercock sold 2,500 shares of the firm’s stock in a transaction dated Monday, April 11th. The shares were sold at an average price of $247.00, for a total value of $617,500.00. Following the transaction, the chief financial officer now directly owns 106,354 shares in the company, valued at approximately $26,269,438. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Robert Andrew Douglas sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, January 18th. The stock was sold at an average price of $247.80, for a total transaction of $1,982,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,613 shares of company stock worth $10,535,593. Insiders own 1.42% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. ST Germain D J Co. Inc. lifted its position in ResMed by 0.3% in the 3rd quarter. ST Germain D J Co. Inc. now owns 14,637 shares of the medical equipment provider’s stock valued at $3,858,000 after purchasing an additional 40 shares during the last quarter. Horizon Investments LLC increased its stake in ResMed by 4.2% during the 3rd quarter. Horizon Investments LLC now owns 992 shares of the medical equipment provider’s stock valued at $261,000 after buying an additional 40 shares during the period. Allworth Financial LP increased its stake in ResMed by 18.8% during the 3rd quarter. Allworth Financial LP now owns 297 shares of the medical equipment provider’s stock valued at $78,000 after buying an additional 47 shares during the period. Checchi Capital Advisers LLC increased its stake in ResMed by 4.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,139 shares of the medical equipment provider’s stock valued at $297,000 after buying an additional 48 shares during the period. Finally, Signaturefd LLC increased its stake in ResMed by 2.7% during the 4th quarter. Signaturefd LLC now owns 1,871 shares of the medical equipment provider’s stock valued at $487,000 after buying an additional 49 shares during the period. Hedge funds and other institutional investors own 63.75% of the company’s stock.

ResMed Company Profile (Get Rating)

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 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.

See Also

Analyst Recommendations for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.