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

ResMed Inc. (NYSE:RMD) has been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $296.0909.

RMD has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. KeyCorp lifted their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Morgan Stanley set a $305.00 target price on ResMed in a research report on Friday, October 31st. Baird R W downgraded ResMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th.

ResMed Price Performance

ResMed stock opened at $257.71 on Monday. ResMed has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The firm’s fifty day moving average is $249.44 and its 200 day moving average is $263.31. The company has a market cap of $37.61 billion, a price-to-earnings ratio of 26.38, a PEG ratio of 1.73 and a beta of 0.88.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $2.20 EPS. Sell-side analysts forecast that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio is 24.56%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total transaction of $497,660.00. Following the completion of the sale, the director directly owned 66,773 shares of the company’s stock, valued at approximately $16,615,125.59. This trade represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 21,594 shares of company stock valued at $5,403,495 over the last 90 days. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RMD. SJS Investment Consulting Inc. lifted its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. ORG Partners LLC increased its position in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares during the period. Imprint Wealth LLC bought a new stake in shares of ResMed during the third quarter valued at approximately $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed in the second quarter valued at approximately $26,000. Finally, Sunbelt Securities Inc. bought a new position in ResMed in the third quarter worth approximately $31,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.