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

Shares of ResMed Inc. (NYSE:RMD) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $202.80.

RMD has been the topic of several recent analyst reports. Mizuho reissued a “buy” rating and issued a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and set a $236.00 price target on shares of ResMed in a research report on Monday, June 24th. Finally, Royal Bank of Canada raised their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total value of $2,833,378.51. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Witte Jan De sold 360 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at $85,060,983.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,834 shares of company stock valued at $9,694,137. Company insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

A number of large investors have recently made changes to their positions in the company. Dorsey & Whitney Trust CO LLC grew its stake in ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after acquiring an additional 52 shares during the period. QRG Capital Management Inc. grew its position in shares of ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 56 shares during the period. MV Capital Management Inc. increased its stake in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in ResMed by 1.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after purchasing an additional 60 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in ResMed by 7.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after buying an additional 64 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 2.0 %

Shares of NYSE RMD opened at $207.18 on Thursday. The business has a fifty day moving average of $205.21 and a two-hundred day moving average of $194.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed has a 52-week low of $132.24 and a 52-week high of $229.97. The stock has a market cap of $30.44 billion, a PE ratio of 31.82, a PEG ratio of 1.75 and a beta of 0.66.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. As a group, equities research analysts expect that ResMed will post 7.7 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were paid a $0.48 dividend. The ex-dividend date was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.93%. ResMed’s payout ratio is presently 29.49%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.