Analysts Set ResMed Inc. (NYSE:RMD) Target Price at $202.80

Shares of ResMed Inc. (NYSE:RMD) have earned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $202.80.

A number of analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. KeyCorp raised their price objective on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Finally, Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th.

Insiders Place Their Bets

In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the transaction, the chief financial officer now owns 91,056 shares in the company, valued at approximately $19,104,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the transaction, the chief financial officer now owns 91,056 shares in the company, valued at approximately $19,104,459.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Witte Jan De sold 360 shares of ResMed stock in a transaction 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 sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,151 shares of company stock valued at $6,666,409. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Several hedge funds have recently added to or reduced their stakes in RMD. Dorsey & Whitney Trust CO LLC boosted its position in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 52 shares during the period. MV Capital Management Inc. boosted its position in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after buying an additional 60 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after buying an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. lifted its position in shares of ResMed by 7.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after purchasing an additional 64 shares during the period. Finally, Gulf International Bank UK Ltd lifted its position in shares of ResMed by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after purchasing an additional 66 shares during the period. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

Shares of ResMed stock opened at $191.42 on Friday. The stock has a market cap of $28.12 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.88 and a beta of 0.68. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed has a twelve month low of $132.24 and a twelve month high of $229.97. The company’s fifty day moving average is $208.47 and its 200 day moving average is $191.26.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts forecast that ResMed will post 7.7 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

ResMed Company Profile

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.