ResMed Inc. (NYSE:RMD) Receives $299.27 Average Target Price from Brokerages

ResMed Inc. (NYSE:RMD) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $299.2727.

RMD has been the subject of several recent research reports. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. Mizuho reduced their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Citigroup boosted their target price on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. UBS Group reissued a “buy” rating and issued a $345.00 target price on shares of ResMed in a research note on Friday, December 12th. Finally, Wells Fargo & Company lifted their price target on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th.

ResMed Stock Performance

Shares of ResMed stock opened at $252.47 on Friday. ResMed has a 12 month low of $199.92 and a 12 month high of $293.81. The firm has a market capitalization of $36.78 billion, a P/E ratio of 24.97, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $252.55 and a two-hundred day simple moving average of $262.74.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the business earned $2.43 EPS. ResMed’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 2,055 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total value of $524,025.00. Following the completion of the transaction, the director owned 4,261 shares in the company, valued at $1,086,555. The trade was a 32.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director directly owned 64,773 shares in the company, valued at $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,137 shares of company stock worth $4,658,832. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. SJS Investment Consulting Inc. lifted its holdings in shares of ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares during the period. International Assets Investment Management LLC purchased a new stake in ResMed during the fourth quarter valued at $25,000. ORG Partners LLC increased its position in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Imprint Wealth LLC bought a new position in ResMed in the third quarter valued at about $26,000. Finally, WFA of San Diego LLC purchased a new position in ResMed in the second quarter worth about $26,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.