ResMed Inc. (NYSE:RMD) Receives Average Recommendation of “Moderate Buy” from Analysts

ResMed Inc. (NYSE:RMD) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $225.70.

A number of analysts have recently issued reports on RMD shares. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada raised their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the completion of the sale, the chief financial officer now owns 89,056 shares of the company’s stock, valued at $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,874 shares of company stock worth $28,151,142. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in ResMed by 51.4% in the 2nd 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 buying an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC increased its stake in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after acquiring an additional 241,195 shares during the period. Greenvale Capital LLP raised its position in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares during the period. Finally, Tandem Investment Advisors Inc. boosted its holdings in ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock valued at $95,976,000 after purchasing an additional 14,590 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Trading Up 0.7 %

Shares of NYSE RMD opened at $244.28 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed has a 12 month low of $140.81 and a 12 month high of $260.49. The company has a market cap of $35.86 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.78 and a beta of 0.69. The business has a fifty day simple moving average of $242.63 and a 200-day simple moving average of $219.72.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. Sell-side analysts predict that ResMed will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be given 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 dividend payout ratio is currently 28.08%.

About ResMed

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.