ResMed Inc. (NYSE:RMD) Receives $258.83 Average PT from Brokerages

ResMed Inc. (NYSE:RMD - Get Free Report) has been given an average rating of "Moderate Buy" by the fifteen brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $258.83.

Several equities analysts recently weighed in on the stock. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Morgan Stanley assumed coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective for the company. Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. Finally, Royal Bank of Canada raised their price target on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th.

ResMed Stock Up 1.3%

RMD stock traded up $3.17 during trading on Wednesday, reaching $251.75. The stock had a trading volume of 839,605 shares, compared to its average volume of 1,016,978. ResMed has a one year low of $179.42 and a one year high of $263.05. The company's 50 day moving average is $225.34 and its two-hundred day moving average is $234.23. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $36.91 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 1.53 and a beta of 0.78.

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

ResMed Dividend Announcement

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 issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. ResMed's dividend payout ratio is 23.79%.

Insiders Place Their Bets

In related news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the transaction, the director now owns 75,218 shares in the company, valued at $17,127,890.78. This trade represents a 2.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. This represents a 48.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,949 shares of company stock valued at $11,335,320 over the last quarter. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. ICW Investment Advisors LLC grew its position in ResMed by 0.4% during the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock worth $2,551,000 after acquiring an additional 41 shares during the last quarter. Howard Capital Management Inc. grew its holdings in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after purchasing an additional 45 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of ResMed by 3.9% in the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock worth $269,000 after purchasing an additional 46 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in shares of ResMed by 2.8% in the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock worth $385,000 after buying an additional 47 shares during the period. Finally, CVA Family Office LLC increased its stake in shares of ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock worth $47,000 after buying an additional 48 shares during the period. 54.98% of the stock is owned by institutional investors.

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.