ResMed Inc. (NYSE:RMD) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ResMed Inc. (NYSE:RMD) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $212.25.

A number of research analysts have commented on the stock. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird initiated coverage on shares of ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 target price for the company. Finally, KeyCorp lifted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,931 shares of company stock valued at $22,644,807. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in ResMed by 24.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after acquiring an additional 35,273 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in ResMed during the 1st quarter worth about $2,246,000. Janney Montgomery Scott LLC lifted its position in ResMed by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after buying an additional 4,075 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after buying an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in ResMed during the 4th quarter worth about $7,535,000. 54.98% of the stock is owned by institutional investors.

ResMed Stock Up 2.1 %

NYSE RMD opened at $244.13 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a 50-day simple moving average of $231.46 and a 200 day simple moving average of $211.80. ResMed has a twelve month low of $132.24 and a twelve month high of $255.18. The stock has a market cap of $35.86 billion, a PE ratio of 37.50, a PEG ratio of 2.46 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. On average, research analysts forecast that ResMed will post 8.92 EPS for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is currently 32.57%.

About ResMed

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.