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

Shares of ResMed Inc. (NYSE:RMD) have received a consensus rating of “Moderate Buy” from the fifteen analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $258.83.

A number of brokerages recently issued reports on RMD. Morgan Stanley started coverage on shares of ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 price objective on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Royal Bank of Canada boosted their price target on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a report on Thursday. Piper Sandler reduced their price objective on ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th.

ResMed Stock Performance

NYSE:RMD opened at $235.79 on Friday. The company has a market cap of $34.63 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.53 and a beta of 0.75. ResMed has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. 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 stock has a fifty day moving average price of $221.92 and a 200-day moving average price of $234.05.

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, hitting analysts’ consensus estimates of $2.37. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, equities analysts anticipate that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The stock was 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 approximately $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 over the last three months. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently bought and sold shares of RMD. 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 worth $28,000 after acquiring an additional 68 shares during the period. Colonial Trust Co SC grew its stake in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. bought a new stake in ResMed in the fourth quarter worth approximately $33,000. Golden State Wealth Management LLC lifted its stake in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of 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 worth $38,000 after buying an additional 150 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

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.