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

Shares of ResMed Inc. (NYSE:RMD) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $202.80.

RMD has been the topic of a number of research reports. Mizuho reissued a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada lifted their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. UBS Group boosted their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Needham & Company LLC lifted their price target on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, KeyCorp raised their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th.

Insiders Place Their Bets

In other ResMed news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Drexler sold 425 shares of ResMed stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold 11,641 shares of company stock valued at $2,137,958 in the last ninety days. 1.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. MV Capital Management Inc. boosted its position in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after acquiring an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in ResMed by 7.6% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after acquiring an additional 64 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of ResMed by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after acquiring an additional 66 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of ResMed by 2.6% during the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Trading Down 1.5 %

NYSE RMD opened at $212.89 on Friday. ResMed has a one year low of $132.24 and a one year high of $237.26. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The firm has a market cap of $31.28 billion, a P/E ratio of 32.70, a P/E/G ratio of 2.68 and a beta of 0.64. The stock’s 50-day moving average is $192.67 and its 200-day moving average is $176.28.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the firm posted $1.68 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that ResMed will post 7.59 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

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.