Brokerages Set ResMed Inc. (NYSE:RMD) PT at $212.25

Shares of ResMed Inc. (NYSE:RMD) have received an average rating of “Moderate Buy” from the thirteen analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $218.18.

Several research firms have issued reports on RMD. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp lifted their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a report on Tuesday, September 24th.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the transaction, the director now owns 85,204 shares in the company, valued at approximately $20,210,388.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the sale, the director now owns 85,204 shares in the company, valued at $20,210,388.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 104,931 shares of company stock valued at $23,119,207 over the last quarter. 1.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RMD. Handelsbanken Fonder AB lifted its stake in shares of ResMed by 4.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 81,554 shares of the medical equipment provider’s stock valued at $19,909,000 after purchasing an additional 3,171 shares during the period. Duncan Williams Asset Management LLC increased its holdings in ResMed by 4.9% in the third quarter. Duncan Williams Asset Management LLC now owns 3,403 shares of the medical equipment provider’s stock valued at $831,000 after buying an additional 159 shares in the last quarter. Czech National Bank raised its position in shares of ResMed by 6.9% in the third quarter. Czech National Bank now owns 29,931 shares of the medical equipment provider’s stock worth $7,307,000 after acquiring an additional 1,936 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of ResMed by 3.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 65,570 shares of the medical equipment provider’s stock worth $16,007,000 after acquiring an additional 2,454 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of ResMed during the 2nd quarter valued at about $1,162,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

NYSE RMD opened at $233.98 on Tuesday. The company has a market cap of $34.38 billion, a PE ratio of 35.94, a P/E/G ratio of 2.16 and a beta of 0.69. The firm’s 50 day moving average price is $234.03 and its 200-day moving average price is $212.95. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed has a 52-week low of $132.24 and a 52-week high of $255.18.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. Sell-side analysts forecast that ResMed will post 9.02 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

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.