Brokerages Set ResMed Inc. (NYSE:RMD) Price Target at $296.09

Shares of ResMed Inc. (NYSE:RMD) have received an average rating of “Moderate Buy” from the fifteen brokerages that are covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $296.0909.

RMD has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Robert W. Baird reaffirmed a “neutral” rating and issued a $275.00 price objective (down previously from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Royal Bank Of Canada increased their target price on shares of ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Finally, UBS Group restated a “buy” rating and issued a $345.00 price target on shares of ResMed in a research note on Friday, December 12th.

Insider Activity

In related news, CEO Michael J. Farrell sold 8,011 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the sale, the chief executive officer owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. The trade was a 1.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director directly owned 4,261 shares in the company, valued at approximately $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,594 shares of company stock worth $5,403,495 in the last quarter. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of ResMed

A number of institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after buying an additional 994 shares in the last quarter. Wedmont Private Capital raised its holdings in ResMed by 6.1% in the 2nd quarter. Wedmont Private Capital now owns 2,098 shares of the medical equipment provider’s stock valued at $537,000 after acquiring an additional 121 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in ResMed by 6.3% in the 2nd quarter. IFM Investors Pty Ltd now owns 28,249 shares of the medical equipment provider’s stock worth $7,288,000 after purchasing an additional 1,671 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in ResMed by 264.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 39,708 shares of the medical equipment provider’s stock worth $10,245,000 after purchasing an additional 28,801 shares in the last quarter. Finally, Diversified Trust Co acquired a new position in shares of ResMed during the 2nd quarter worth approximately $274,000. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of NYSE RMD opened at $259.29 on Monday. ResMed has a 52 week low of $199.92 and a 52 week high of $293.81. The business’s 50 day moving average price is $249.74 and its 200 day moving average price is $263.26. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The firm has a market cap of $37.84 billion, a P/E ratio of 26.54, a P/E/G ratio of 1.70 and a beta of 0.88.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.06. The company had revenue of $1.34 billion for 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 firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. On average, sell-side analysts expect that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

ResMed Company Profile

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.