ResMed Inc. (NYSE:RMD) Receives Average Rating of "Moderate Buy" from Brokerages

Shares of ResMed Inc. (NYSE:RMD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the ten analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $199.20.

RMD has been the subject of several analyst reports. Mizuho reissued a "buy" rating and issued a $215.00 price objective on shares of ResMed in a research note on Wednesday, March 27th. UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th. Oppenheimer raised their target price on shares of ResMed from $185.00 to $205.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 30th. KeyCorp initiated coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of ResMed from $181.00 to $182.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 25th.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 over the last ninety days. 1.21% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

Institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of ResMed during the third quarter worth $26,000. Compass Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in shares of ResMed during the third quarter worth $27,000. EverSource Wealth Advisors LLC lifted its stake in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock worth $27,000 after buying an additional 128 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $27,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Trading Up 3.5 %

NYSE RMD traded up $6.51 during trading on Tuesday, hitting $194.27. The stock had a trading volume of 987,417 shares, compared to its average volume of 992,987. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The stock has a market capitalization of $28.57 billion, a price-to-earnings ratio of 32.11, a P/E/G ratio of 2.34 and a beta of 0.67. ResMed has a one year low of $132.24 and a one year high of $243.52. The stock has a 50 day simple moving average of $187.02 and a 200 day simple moving average of $168.66.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The firm's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.66 earnings per share. Sell-side analysts predict that ResMed will post 7.45 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.99%. The ex-dividend date was Wednesday, February 7th. ResMed's payout ratio is 31.74%.

ResMed Company Profile

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.