Analysts Set ResMed Inc. (NYSE:RMD) Price Target at $231.20

Shares of ResMed Inc. (NYSE:RMD) have earned a consensus rating of “Hold” from the thirteen brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $233.09.

A number of research firms have recently commented on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Stifel Nicolaus assumed coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Piper Sandler initiated coverage on ResMed in a report on Friday. They issued a “neutral” rating and a $252.00 target price for the company.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now owns 81,218 shares in the company, valued at approximately $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. Insiders sold 11,099 shares of company stock valued at $2,719,385 over the last three months. 0.71% of the stock is owned by company insiders.

Institutional Trading of ResMed

Institutional investors have recently modified their holdings of the company. True Wealth Design LLC grew its stake in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed during the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP acquired a new position in shares of ResMed in the third quarter valued at about $60,000. Quest Partners LLC increased its holdings in shares of ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 100 shares during the period. Finally, Quarry LP raised its stake in shares of ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

ResMed Stock Performance

Shares of ResMed stock opened at $233.92 on Thursday. ResMed has a 12 month low of $168.29 and a 12 month high of $260.49. The firm has a market capitalization of $34.34 billion, a P/E ratio of 30.98, a P/E/G ratio of 1.73 and a beta of 0.70. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $239.84 and a two-hundred day simple moving average of $231.21.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the business earned $1.64 EPS. ResMed’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that ResMed will post 9.34 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.91%. ResMed’s payout ratio is presently 28.08%.

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.