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

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $244.73.

A number of equities analysts have commented on the company. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th.

ResMed Price Performance

NYSE:RMD opened at $236.84 on Monday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.77 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. ResMed has a 12 month low of $170.56 and a 12 month high of $263.05. The company’s 50-day moving average price is $239.43 and its two-hundred day moving average price is $237.19.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. On average, equities analysts anticipate that ResMed will post 9.41 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,094 shares of company stock valued at $2,704,941. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ResMed

Several large investors have recently modified their holdings of the business. State Street Corp grew its position in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC lifted its stake in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock valued at $218,861,000 after buying an additional 32,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after acquiring an additional 2,406 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock worth $152,973,000 after acquiring an additional 250,746 shares during the period. 54.98% of the stock is currently owned by institutional investors.

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.