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

Shares of ResMed Inc. (NYSE:RMD) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $225.70.

A number of brokerages have recently commented on RMD. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th.

ResMed Stock Up 0.1 %

RMD stock opened at $243.78 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm’s 50-day simple moving average is $241.86 and its 200 day simple moving average is $224.56. The stock has a market cap of $35.79 billion, a PE ratio of 32.29, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69. ResMed has a fifty-two week low of $151.95 and a fifty-two week high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that ResMed will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s payout ratio is currently 28.08%.

Insider Transactions at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $246.42, for a total value of $246,420.00. Following the completion of the sale, the chief financial officer now directly owns 96,812 shares of the company’s stock, valued at $23,856,413.04. This represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares in the company, valued at $20,920,239.60. The trade was a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,174 shares of company stock valued at $14,882,278 over the last quarter. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. State Street Corp increased its stake in shares of ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the last quarter. Bank of New York Mellon Corp grew its stake in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Geode Capital Management LLC increased its position in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock worth $225,578,000 after purchasing an additional 13,985 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of ResMed by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after buying an additional 2,406 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.