ResMed Inc. (NYSE:RMD) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $299.2727.

Several analysts have commented on the company. Citigroup increased their target price on ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada increased their target price on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Piper Sandler increased their target price on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Robert W. Baird set a $281.00 target price on ResMed in a research note on Friday, January 30th. Finally, Stifel Nicolaus raised their price target on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 16,032 shares of company stock worth $4,105,387. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently modified their holdings of the company. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 86 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of ResMed in the 4th quarter worth $25,000. ORG Partners LLC raised its holdings in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC bought a new position in ResMed in the 3rd quarter worth $26,000. Finally, WFA of San Diego LLC bought a new position in ResMed in the 2nd quarter worth $26,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Performance

Shares of RMD opened at $230.36 on Friday. The business’s fifty day simple moving average is $244.76 and its two-hundred day simple moving average is $252.32. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. ResMed has a 12 month low of $201.90 and a 12 month high of $293.81. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 22.79, a P/E/G ratio of 1.49 and a beta of 0.93.

ResMed (NYSE:RMD) last issued its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the business posted $2.43 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. Research analysts anticipate that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is 23.74%.

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.