ResMed Inc. (NYSE:RMD) Receives $227.91 Consensus PT from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have been given an average rating of “Hold” by the thirteen analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $227.91.

Several analysts have issued reports on the stock. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Wolfe Research restated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Bank of America boosted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, October 25th.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This represents a 3.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the transaction, the director now directly owns 85,204 shares in the company, valued at $20,210,388.80. This trade represents a 2.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,725 shares of company stock worth $11,253,448 over the last ninety days. 0.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp lifted its position in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in ResMed by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider’s stock valued at $225,578,000 after purchasing an additional 13,985 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Stock Performance

Shares of RMD opened at $242.62 on Friday. The company has a market capitalization of $35.62 billion, a PE ratio of 32.14, a P/E/G ratio of 1.73 and a beta of 0.68. ResMed has a 52-week low of $164.12 and a 52-week high of $260.49. The company has a 50-day simple moving average of $243.05 and a 200-day simple moving average of $228.22. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. Equities research analysts predict that ResMed will post 9.34 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend 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.