Analysts Set ResMed Inc. (NYSE:RMD) Price Target at $286.18

ResMed Inc. (NYSE:RMD) has received a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $286.1818.

Several equities research analysts have recently commented on RMD shares. JPMorgan Chase & Co. began coverage on ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating for the company. Wells Fargo & Company lowered their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Piper Sandler raised their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Finally, KeyCorp lowered their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, April 27th.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,973 shares of company stock worth $4,386,031 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Imprint Wealth LLC acquired a new position in shares of ResMed during the 3rd quarter worth $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 acquired a new stake in shares of ResMed in the fourth quarter valued at about $25,000. ORG Partners LLC boosted its holdings in 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 buying an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed during the third quarter worth about $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD stock opened at $203.43 on Friday. The stock has a market capitalization of $29.51 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 1.31 and a beta of 0.84. ResMed has a 52-week low of $198.61 and a 52-week high of $293.81. The stock’s 50-day moving average price is $217.68 and its 200 day moving average price is $239.69. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period last year, the firm earned $2.37 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that ResMed will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be given a $0.60 dividend. The ex-dividend date is Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

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.