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

ResMed Inc. (NYSE:RMD) has been given a consensus recommendation of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has 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 $244.73.

Several analysts have issued reports on RMD shares. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. 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 note on Friday. 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 note on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday.

ResMed Trading Down 8.1 %

Shares of ResMed stock opened at $236.66 on Monday. The firm has a market cap of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. The business has a 50-day moving average price of $240.17 and a 200-day moving average price of $236.41. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Equities research analysts anticipate that ResMed will post 9.35 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is currently 28.08%.

Insiders Place Their Bets

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 completion of the sale, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,030 shares of company stock valued at $2,702,687. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its position in ResMed by 50.8% during the fourth quarter. Global Retirement Partners LLC now owns 582 shares of the medical equipment provider’s stock valued at $133,000 after purchasing an additional 196 shares during the period. Convergence Investment Partners LLC acquired a new position in ResMed during the fourth quarter valued at $1,026,000. Bfsg LLC lifted its position in ResMed by 2.3% during the fourth quarter. Bfsg LLC now owns 17,562 shares of the medical equipment provider’s stock valued at $4,016,000 after purchasing an additional 395 shares during the period. Atria Wealth Solutions Inc. acquired a new position in ResMed during the fourth quarter valued at $601,000. Finally, Venturi Wealth Management LLC lifted its position in ResMed by 59.8% during the fourth quarter. Venturi Wealth Management LLC now owns 545 shares of the medical equipment provider’s stock valued at $125,000 after purchasing an additional 204 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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.