ResMed Inc. (NYSE:RMD) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of ResMed Inc. (NYSE:RMD - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fifteen brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $259.33.

A number of brokerages have commented on RMD. KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. Mizuho set a $265.00 price objective on ResMed in a report on Wednesday, April 16th. Piper Sandler decreased their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. UBS Group decreased their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th.

Insider Activity at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,868 shares of company stock worth $7,395,972. Insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On ResMed

A number of large investors have recently added to or reduced their stakes in the company. Inspire Investing LLC raised its position in ResMed by 29.3% during the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider's stock valued at $6,397,000 after purchasing an additional 6,472 shares in the last quarter. Jacobi Capital Management LLC raised its position in ResMed by 11.0% during the first quarter. Jacobi Capital Management LLC now owns 1,248 shares of the medical equipment provider's stock valued at $279,000 after purchasing an additional 124 shares in the last quarter. Intech Investment Management LLC raised its position in ResMed by 63.2% during the first quarter. Intech Investment Management LLC now owns 15,325 shares of the medical equipment provider's stock valued at $3,430,000 after purchasing an additional 5,934 shares in the last quarter. Capital Impact Advisors LLC purchased a new stake in ResMed during the first quarter valued at about $8,537,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in ResMed by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider's stock valued at $218,791,000 after purchasing an additional 22,789 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Up 1.0%

RMD stock opened at $252.27 on Friday. The stock's 50 day simple moving average is $232.85 and its 200 day simple moving average is $234.60. ResMed has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market cap of $36.99 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.13 EPS. On average, research analysts expect that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.84%. ResMed's payout ratio is 23.79%.

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.

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