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

Shares of ResMed Inc. (NYSE:RMD) have received an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, seven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $249.73.

Several equities analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st.

ResMed Trading Down 1.2 %

Shares of ResMed stock opened at $219.85 on Tuesday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $233.70 and a 200 day simple moving average of $238.13. ResMed has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a market capitalization of $32.29 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, sell-side analysts anticipate that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Insider Activity

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

Hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of ResMed by 306.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,549 shares of the medical equipment provider’s stock valued at $6,758,000 after buying an additional 22,278 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in ResMed by 1.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 53,033 shares of the medical equipment provider’s stock valued at $12,128,000 after purchasing an additional 541 shares in the last quarter. Menard Financial Group LLC bought a new stake in ResMed during the fourth quarter worth about $98,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of ResMed in the 4th quarter worth about $19,540,000. Finally, ABLE Financial Group LLC boosted its holdings in shares of ResMed by 2.8% in the 4th quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider’s stock worth $604,000 after purchasing an additional 72 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.