ResMed Inc. (NYSE:RMD) Given Consensus Rating of “Hold” by Analysts

ResMed Inc. (NYSE:RMD) has been assigned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $231.20.

A number of research analysts have commented on the stock. Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th.

ResMed Stock Performance

ResMed stock opened at $235.87 on Thursday. ResMed has a 12-month low of $168.29 and a 12-month high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market capitalization of $34.62 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. The firm’s fifty day moving average price is $240.18 and its 200 day moving average price is $230.48.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. On average, research analysts forecast that ResMed will post 9.34 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed’s dividend payout ratio is presently 28.08%.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. This trade represents a 16.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,359 shares of company stock worth $3,735,309 in the last three months. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC lifted its stake in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the 3rd quarter valued at $34,000. Capital Performance Advisors LLP purchased a new position in ResMed in the 3rd quarter worth about $60,000. Quest Partners LLC lifted its stake in ResMed by 44.1% during the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 100 shares in the last quarter. Finally, Quarry LP increased its position in shares of ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 242 shares in the last quarter. 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.