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

ResMed Inc. (NYSE:RMD) has been assigned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $249.73.

RMD has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Piper Sandler upped their target price on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. This trade represents a 48.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,940 shares of company stock valued at $9,164,385. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

Large investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Colonial Trust Co SC raised its position in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. bought a new position in shares of ResMed in the 4th quarter worth $33,000. Itau Unibanco Holding S.A. grew its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, OFI Invest Asset Management bought a new stake in ResMed during the 4th quarter valued at $39,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Stock Down 1.2 %

NYSE RMD opened at $219.85 on Tuesday. The business has a fifty day moving average price of $233.70 and a two-hundred day moving average price of $238.13. The stock has a market capitalization of $32.29 billion, a PE ratio of 25.96, a PEG ratio of 1.53 and a beta of 0.74. ResMed has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts expect that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

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.