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

ResMed Inc. (NYSE:RMD) has earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $243.82.

Several research firms recently issued reports on RMD. Stifel Nicolaus reduced 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. KeyCorp lifted their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler lifted their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,186 shares of company stock valued at $4,996,646. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On ResMed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in ResMed by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock valued at $4,156,089,000 after acquiring an additional 160,590 shares during the period. State Street Corp raised its stake in 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 acquiring an additional 116,918 shares during the period. Geode Capital Management LLC raised its stake in ResMed by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock valued at $899,860,000 after acquiring an additional 85,270 shares during the period. Invesco Ltd. raised its stake in ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after acquiring an additional 566,046 shares during the period. Finally, Northern Trust Corp raised its stake in ResMed by 20.6% in the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock valued at $389,365,000 after acquiring an additional 290,664 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Up 0.6 %

ResMed stock opened at $225.08 on Friday. The firm has a 50 day moving average price of $236.72 and a two-hundred day moving average price of $239.80. The firm has a market cap of $33.06 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 1.53 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed has a 52-week low of $172.19 and a 52-week high of $263.05.

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

ResMed Dividend Announcement

The business also recently declared 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. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. 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.