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

Shares of ResMed Inc. (NYSE:RMD) have received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $220.55.

RMD has been the topic of a number of research reports. Wolfe Research reiterated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the sale, the chief financial officer now directly owns 95,812 shares of the company’s stock, valued at approximately $22,369,227.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 123,874 shares of company stock valued at $28,151,142. Company insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several large investors have recently added to or reduced their stakes in the stock. First Trust Direct Indexing L.P. boosted its position in ResMed by 11.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 5,446 shares of the medical equipment provider’s stock valued at $1,329,000 after buying an additional 568 shares during the period. Integrated Advisors Network LLC purchased a new stake in ResMed in the 3rd quarter valued at about $224,000. abrdn plc boosted its position in ResMed by 9.2% in the 3rd quarter. abrdn plc now owns 397,810 shares of the medical equipment provider’s stock valued at $96,284,000 after buying an additional 33,451 shares during the period. Smith Group Asset Management LLC boosted its position in ResMed by 286.3% in the 3rd quarter. Smith Group Asset Management LLC now owns 7,610 shares of the medical equipment provider’s stock valued at $1,858,000 after buying an additional 5,640 shares during the period. Finally, Pallas Capital Advisors LLC boosted its position in ResMed by 56.0% in the 3rd quarter. Pallas Capital Advisors LLC now owns 2,017 shares of the medical equipment provider’s stock valued at $482,000 after buying an additional 724 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of NYSE RMD opened at $256.07 on Friday. 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 company has a market cap of $37.58 billion, a P/E ratio of 36.95, a P/E/G ratio of 1.94 and a beta of 0.69. The firm’s fifty day moving average is $240.22 and its two-hundred day moving average is $217.35. ResMed has a 52-week low of $132.24 and a 52-week high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. ResMed’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS. As a group, analysts anticipate that ResMed will post 9.08 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. ResMed’s dividend payout ratio is presently 30.59%.

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.