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

ResMed Inc. (NYSE:RMD) has received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $259.33.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their target price on ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, April 24th. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, May 24th.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 2,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the transaction, the director owned 5,806 shares in the company, valued at $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the completion of the transaction, the director directly owned 71,218 shares of the company’s stock, valued at $17,252,560.50. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,068 shares of company stock valued at $6,622,094. 0.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RMD. Exchange Traded Concepts LLC grew its holdings in shares of ResMed by 393.0% during the first quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider’s stock valued at $566,000 after buying an additional 2,016 shares during the last quarter. IFP Advisors Inc lifted its position in ResMed by 37.1% during the 4th quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider’s stock worth $85,000 after acquiring an additional 101 shares during the period. Jones Financial Companies Lllp grew its stake in ResMed by 38.3% during the 4th quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider’s stock valued at $432,000 after purchasing an additional 523 shares during the last quarter. Atria Investments Inc increased its holdings in shares of ResMed by 21.5% in the fourth quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider’s stock valued at $482,000 after purchasing an additional 372 shares during the period. Finally, EntryPoint Capital LLC purchased a new position in shares of ResMed in the fourth quarter worth about $347,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Price Performance

RMD opened at $255.97 on Thursday. The company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 28.73, a PEG ratio of 1.60 and a beta of 0.77. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. ResMed has a 12-month low of $188.06 and a 12-month high of $263.05. The business’s fifty day simple moving average is $247.59 and its 200-day simple moving average is $235.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. On average, equities research analysts anticipate that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

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.