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

Shares of ResMed Inc. (NYSE:RMD - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fourteen analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $259.33.

A number of research analysts recently weighed in on the stock. KeyCorp set a $274.00 target price on shares of ResMed in a research note on Thursday, April 24th. UBS Group lowered their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus cut their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Mizuho set a $265.00 price target on ResMed in a report on Wednesday, April 16th. Finally, Piper Sandler cut their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director owned 71,218 shares in the company, valued at $17,252,560.50. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $251.21, for a total transaction of $2,011,940.89. Following the transaction, the chief executive officer directly owned 455,503 shares of the company's stock, valued at approximately $114,426,908.63. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,068 shares of company stock worth $6,622,094. Company insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC boosted its stake in shares of ResMed by 393.0% during the first quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock valued at $566,000 after purchasing an additional 2,016 shares during the period. IFP Advisors Inc boosted its position in ResMed by 37.1% in the 4th quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider's stock valued at $85,000 after buying an additional 101 shares during the period. Jones Financial Companies Lllp grew its stake in ResMed by 38.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider's stock worth $432,000 after acquiring an additional 523 shares in the last quarter. Atria Investments Inc grew its stake in ResMed by 21.5% in the 4th quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider's stock worth $482,000 after acquiring an additional 372 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of ResMed during the fourth quarter worth approximately $347,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Stock Down 0.1%

NYSE RMD opened at $255.97 on Thursday. The stock's 50-day moving average price is $247.59 and its 200-day moving average price is $235.70. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12. ResMed has a 52 week low of $188.06 and a 52 week high of $263.05. The company has a market capitalization of $37.53 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the firm posted $2.13 EPS. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities research analysts predict that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio is currently 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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