Brokerages Set ResMed Inc. (NYSE:RMD) PT at $225.70

ResMed Inc. (NYSE:RMD) has earned an average rating of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $225.70.

RMD has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Wolfe Research reissued an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. Robert W. Baird increased their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now owns 21,788 shares in the company, valued at approximately $5,502,777.28. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,174 shares of company stock valued at $14,882,278. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. True Wealth Design LLC raised its position in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of ResMed in the second quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new position in shares of ResMed during the third quarter valued at about $34,000. Versant Capital Management Inc boosted its holdings in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in ResMed in the 2nd quarter valued at about $37,000. Institutional investors own 54.98% of the company’s stock.

ResMed Stock Up 0.1 %

Shares of RMD opened at $243.78 on Wednesday. The firm has a market cap of $35.79 billion, a P/E ratio of 32.29, a price-to-earnings-growth ratio of 1.73 and a beta of 0.69. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed has a 52 week low of $151.95 and a 52 week high of $260.49. The firm’s 50-day simple moving average is $241.86 and its 200 day simple moving average is $224.42.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. On average, analysts forecast that ResMed will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. ResMed’s payout ratio is currently 28.08%.

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.