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

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

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upped their price target on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Royal Bank Of Canada boosted their price objective on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and set a $302.00 price target on shares of ResMed in a research note on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and issued a $345.00 price target on shares of ResMed in a research report on Friday, December 12th.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the transaction, the director owned 62,773 shares of the company’s stock, valued at $16,334,790.06. The trade was a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,082 shares of company stock worth $4,152,307 in the last 90 days. 0.65% of the stock is currently owned by company insiders.

Institutional Trading of ResMed

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in ResMed by 1.6% in the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after purchasing an additional 293,515 shares during the period. State Street Corp increased its position in ResMed by 1.2% in the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after acquiring an additional 76,244 shares during the period. Bank of New York Mellon Corp increased its position in ResMed by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock valued at $1,178,012,000 after acquiring an additional 337,738 shares during the period. Geode Capital Management LLC raised its stake in ResMed by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after acquiring an additional 51,218 shares during the last quarter. Finally, Morgan Stanley lifted its position in ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after acquiring an additional 578,559 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Up 0.1%

ResMed stock opened at $253.03 on Tuesday. The stock has a market cap of $36.86 billion, a PE ratio of 25.03, a P/E/G ratio of 1.68 and a beta of 0.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock’s fifty day moving average is $255.43 and its two-hundred day moving average is $259.58. ResMed has a 1-year low of $199.92 and a 1-year high of $293.81.

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

ResMed Announces Dividend

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 of this dividend is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 23.74%.

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.