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

Shares of ResMed Inc. (NYSE:RMD) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $296.0909.

A number of research firms recently issued reports on RMD. Royal Bank Of Canada increased their target price on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a report on Monday, December 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $275.00 price objective (down from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Mizuho lowered their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. Finally, Baird R W lowered ResMed from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,055 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the transaction, the director owned 4,261 shares in the company, valued at approximately $1,086,555. This represents a 32.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,011 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the completion of the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,662 shares of company stock worth $5,946,466. Insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On ResMed

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. raised its holdings in ResMed by 2.6% during the first quarter. Raymond James Financial Inc. now owns 42,870 shares of the medical equipment provider’s stock worth $9,597,000 after acquiring an additional 1,075 shares in the last quarter. Wellington Management Group LLP increased its position in shares of ResMed by 549.7% during the 1st quarter. Wellington Management Group LLP now owns 58,200 shares of the medical equipment provider’s stock worth $13,028,000 after purchasing an additional 49,242 shares during the last quarter. Compound Planning Inc. raised its stake in shares of ResMed by 17.4% during the 1st quarter. Compound Planning Inc. now owns 1,263 shares of the medical equipment provider’s stock worth $283,000 after purchasing an additional 187 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ResMed by 4.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,966 shares of the medical equipment provider’s stock valued at $1,112,000 after buying an additional 201 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of ResMed by 3.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after buying an additional 46 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Performance

Shares of ResMed stock opened at $242.68 on Thursday. The stock’s fifty day simple moving average is $250.70 and its 200 day simple moving average is $263.66. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $35.42 billion, a PE ratio of 24.84, a PEG ratio of 1.65 and a beta of 0.87. ResMed has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.20 earnings per share. On average, research analysts predict that ResMed will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th were paid a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s payout ratio is presently 24.56%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.