Brokerages Set ResMed Inc. (NYSE:RMD) Target Price at $296.09

Shares of ResMed Inc. (NYSE:RMD) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $296.0909.

A number of research firms recently weighed in on RMD. Mizuho lowered their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Royal Bank Of Canada boosted their price target on shares of ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Morgan Stanley set a $305.00 price target on shares of ResMed in a research report on Friday, October 31st. UBS Group reissued a “buy” rating and set a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the company’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 transaction, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. This represents a 2.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $115,837,766.58. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,594 shares of company stock worth $5,403,495 in the last ninety days. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. lifted its position in shares of ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the last quarter. Quadcap Wealth Management LLC increased its holdings in ResMed by 2.5% in the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 45 shares during the period. Terra Nova Asset Management LLC lifted its stake in ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after purchasing an additional 46 shares during the period. NBT Bank N A NY boosted its stake in ResMed by 22.9% in the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 47 shares in the last quarter. Finally, OFI Invest Asset Management boosted its stake in shares of ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of NYSE:RMD opened at $252.44 on Monday. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $36.84 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 1.70 and a beta of 0.88. ResMed has a 12 month low of $199.92 and a 12 month high of $293.81. The firm’s 50-day moving average is $249.96 and its 200 day moving average is $263.28.

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

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th were given a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

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.