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

Shares of ResMed Inc. (NYSE:RMD) have been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $299.2727.

A number of analysts have recently weighed in on RMD shares. Robert W. Baird set a $281.00 price target on shares of ResMed in a report on Friday, January 30th. Stifel Nicolaus upped their target price on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $302.00 price objective on shares of ResMed in a report on Friday, January 30th. Citigroup upped their price target on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th.

ResMed Trading Down 5.3%

NYSE:RMD opened at $245.93 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The firm has a 50-day simple moving average of $252.63 and a 200-day simple moving average of $263.09. ResMed has a one year low of $199.92 and a one year high of $293.81. The firm has a market cap of $35.83 billion, a P/E ratio of 24.33, a P/E/G ratio of 1.72 and a beta of 0.87.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. During the same quarter in the previous year, the firm posted $2.43 earnings per share. ResMed’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts anticipate that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be given a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio is currently 23.74%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director owned 64,773 shares in the company, valued at $16,278,102.63. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 2,055 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the transaction, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,137 shares of company stock valued at $4,658,832 in the last ninety days. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On ResMed

Institutional investors have recently made changes to their positions in the company. SJS Investment Consulting Inc. boosted its holdings in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 86 shares in the last quarter. Imprint Wealth LLC acquired a new stake in ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed in the second quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in ResMed during the 4th quarter worth approximately $25,000. Finally, ORG Partners LLC lifted its position in shares of ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

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.