ResMed Inc. (NYSE:RMD) Receives Average Recommendation of “Hold” from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have earned an average recommendation of “Hold” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $227.91.

A number of brokerages have weighed in on RMD. KeyCorp boosted their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. Finally, Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $107,645,432.79. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the sale, the chief financial officer now owns 95,812 shares in the company, valued at approximately $22,369,227.64. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,725 shares of company stock valued at $11,253,448. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. increased its holdings in shares of ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 47 shares during the last quarter. Ascent Group LLC increased its stake in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 48 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of ResMed by 2.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after acquiring an additional 51 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of ResMed by 1.9% during the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after acquiring an additional 56 shares in the last quarter. Finally, Concurrent Investment Advisors LLC boosted its position in shares of ResMed by 3.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after acquiring an additional 57 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

NYSE RMD opened at $231.58 on Friday. ResMed has a one year low of $164.12 and a one year high of $260.49. The stock has a 50-day moving average of $242.79 and a 200 day moving average of $228.26. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a market capitalization of $34.00 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 1.73 and a beta of 0.68.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm 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 revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 earnings per share. On average, sell-side analysts forecast that ResMed will post 9.34 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 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.