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

Shares of ResMed Inc. (NYSE:RMD) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $225.70.

Several research analysts recently weighed in on the stock. KeyCorp boosted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Robert W. Baird lifted their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th.

ResMed Price Performance

ResMed stock opened at $244.28 on Friday. ResMed has a 52 week low of $140.81 and a 52 week high of $260.49. The firm has a market cap of $35.86 billion, a P/E ratio of 32.35, a P/E/G ratio of 1.78 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The business’s fifty day moving average is $242.63 and its two-hundred day moving average is $219.72.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.64 earnings per share. Equities research analysts forecast that ResMed will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s payout ratio is presently 28.08%.

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock worth $28,151,142 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in shares of ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the last quarter. Marshall Wace LLP acquired a new stake in ResMed during the second quarter worth approximately $77,285,000. Greenvale Capital LLP grew its position in shares of ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in ResMed during the 2nd quarter worth approximately $42,036,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

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.