ResMed Inc. (NYSE:RMD) Receives $225.70 Average Price Target from Analysts

Shares of ResMed Inc. (NYSE:RMD) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $225.70.

RMD has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada raised their price target on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th.

ResMed Trading Up 0.1 %

Shares of RMD stock opened at $243.78 on Wednesday. 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 firm has a fifty day moving average of $241.86 and a 200-day moving average of $224.42. ResMed has a 52-week low of $151.95 and a 52-week high of $260.49. The stock has a market cap of $35.79 billion, a price-to-earnings ratio of 32.29, a P/E/G ratio of 1.73 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts forecast that ResMed will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. 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 dividend payout ratio is currently 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Witte Jan De sold 796 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 62,174 shares of company stock valued at $14,882,278. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors and hedge funds have recently made changes to their positions in RMD. True Wealth Design LLC raised its position 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 worth $28,000 after acquiring an additional 110 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC acquired a new stake in ResMed in the 3rd quarter valued at about $34,000. Versant Capital Management Inc grew its holdings in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in ResMed during the second quarter worth approximately $37,000. Institutional investors own 54.98% of the company’s stock.

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.