ResMed Inc. (NYSE:RMD) Receives $202.80 Consensus Target Price from Analysts

ResMed Inc. (NYSE:RMD) has earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $202.80.

Several brokerages have recently weighed in on RMD. Needham & Company LLC reiterated a “buy” rating and set a $236.00 target price on shares of ResMed in a research report on Monday, June 24th. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Mizuho reiterated a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp boosted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th.

ResMed Trading Down 0.1 %

Shares of NYSE:RMD opened at $191.42 on Friday. The firm has a fifty day moving average of $208.47 and a two-hundred day moving average of $191.26. The firm has a market capitalization of $28.12 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 1.88 and a beta of 0.68. ResMed has a 12-month low of $132.24 and a 12-month high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $1.68 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts expect that ResMed will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 1.00%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Insiders Place Their Bets

In other ResMed news, Director Karen Drexler sold 425 shares of ResMed stock in a transaction on Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares of the company’s stock, valued at approximately $1,815,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other ResMed news, Director Karen Drexler sold 425 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $214.92, for a total transaction of $91,341.00. Following the sale, the director now directly owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the sale, the chief financial officer now directly owns 91,056 shares in the company, valued at $19,104,459.36. The disclosure for this sale can be found here. Insiders have sold 31,151 shares of company stock valued at $6,666,409 in the last three months. 1.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Handelsbanken Fonder AB boosted its holdings in ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after acquiring an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after buying an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL bought a new stake in shares of ResMed during the 4th quarter valued at $29,322,000. Dimensional Fund Advisors LP raised its position in shares of ResMed by 8.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after purchasing an additional 40,605 shares during the last quarter. Finally, ICW Investment Advisors LLC raised its position in shares of ResMed by 2.3% in the 4th quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after purchasing an additional 249 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.