ResMed Inc. (NYSE:RMD) Stock Has Average Price Target of $241.69 According to Analysts

ResMed Inc. (NYSE:RMD) has been assigned a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $241.69.

RMD has been the topic of several research analyst reports. Piper Sandler reduced their price objective on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Robert W. Baird set a $213.00 target price on shares of ResMed in a research note on Friday, August 7th. UBS Group reissued a “buy” rating and set a $300.00 target price on shares of ResMed in a report on Tuesday, July 21st. Jefferies Financial Group reduced their price target on shares of ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a research report on Friday, July 10th. Finally, KeyCorp lifted their price target on shares of ResMed from $255.00 to $267.00 and gave the company an “overweight” rating in a report on Monday, August 31st.

ResMed Trading Down 0.5%

Shares of NYSE RMD opened at $221.67 on Friday. The stock’s 50 day moving average price is $222.96 and its two-hundred day moving average price is $214.16. ResMed has a 52-week low of $180.26 and a 52-week high of $284.87. The stock has a market capitalization of $31.98 billion, a P/E ratio of 21.25, a PEG ratio of 1.40 and a beta of 0.77. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the business posted $2.55 EPS. ResMed’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts anticipate that ResMed will post 12.07 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th were issued a $0.66 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 20th. ResMed’s dividend payout ratio is 25.31%.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the sale, the director directly owned 52,773 shares in the company, valued at approximately $11,873,925. This represents a 13.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the sale, the chief executive officer directly owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 23,943 shares of company stock valued at $5,255,268. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

Several large investors have recently added to or reduced their stakes in RMD. Kera Capital Partners Inc. grew its position in shares of ResMed by 6.6% during the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 52 shares during the last quarter. Andina Capital Management LLC lifted its position in ResMed by 2.9% in the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock valued at $479,000 after purchasing an additional 56 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its holdings in shares of ResMed by 6.2% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock valued at $223,000 after buying an additional 58 shares during the last quarter. Meridian Management Co. boosted its position in ResMed by 0.6% during the 1st quarter. Meridian Management Co. now owns 11,332 shares of the medical equipment provider’s stock worth $2,544,000 after acquiring an additional 70 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in ResMed by 1.3% in the first quarter. Glenmede Trust Co. NA now owns 5,479 shares of the medical equipment provider’s stock worth $1,230,000 after purchasing an additional 71 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed Inc (NYSE: RMD) develops, manufactures and distributes medical equipment and digital health solutions for sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its products include continuous positive airway pressure (CPAP), bilevel and other noninvasive ventilation devices, as well as masks, humidifiers, accessories and diagnostic equipment.

The company also provides cloud-connected software and digital health services that support patient monitoring, therapy management and communication among patients, clinicians and care providers.