ResMed Inc. (NYSE:RMD) Given Consensus Recommendation of “Moderate Buy” by Analysts

ResMed Inc. (NYSE:RMD) has been given a consensus recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $258.83.

RMD has been the topic of several recent analyst reports. Piper Sandler reduced their price objective on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. KeyCorp set a $274.00 price target on shares of ResMed in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Mizuho set a $265.00 price target on shares of ResMed in a research note on Wednesday, April 16th. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd.

ResMed Stock Performance

Shares of RMD opened at $248.16 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market capitalization of $36.39 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 1.53 and a beta of 0.78. The company’s 50 day simple moving average is $226.57 and its 200 day simple moving average is $234.27. ResMed has a 1 year low of $179.42 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 earnings per share. On average, sell-side analysts predict that ResMed will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, May 8th. ResMed’s payout ratio is currently 23.79%.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $104,394,182.40. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 48,949 shares of company stock valued at $11,335,320 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several large investors have recently made changes to their positions in the business. Global X Japan Co. Ltd. grew its holdings in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 68 shares in the last quarter. Colonial Trust Co SC grew its holdings in ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in ResMed during the 4th quarter valued at $33,000. Golden State Wealth Management LLC grew its holdings in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Company Profile

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.