Analysts Set ResMed Inc. (NYSE:RMD) Price Target at $246.83

Shares of ResMed Inc. (NYSE:RMD) have been given an average recommendation of “Moderate Buy” by the fifteen research firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $249.73.

RMD has been the subject of several analyst reports. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. KeyCorp lifted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley began coverage on ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st.

ResMed Trading Up 0.3 %

Shares of RMD opened at $222.62 on Tuesday. ResMed has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm has a market cap of $32.69 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 business has a 50-day moving average of $234.10 and a 200 day moving average of $238.43.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, research analysts forecast that ResMed will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Transactions at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock valued at $9,164,385 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

A number of large investors have recently made changes to their positions in the stock. First Horizon Advisors Inc. grew its stake in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC purchased a new position in ResMed during the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. boosted its holdings in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after purchasing an additional 5,284 shares during the last quarter. Spire Wealth Management grew its stake in shares of ResMed by 11.3% during the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in shares of ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after acquiring an additional 1,629 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

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.