ResMed Inc. (NYSE:RMD) Receives $297.45 Average Price Target from Analysts

by · The Cerbat Gem

Shares of ResMed Inc. (NYSE:RMD – Get Free Report) have received an average rating of “Moderate Buy” from the sixteen brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $297.4545.

RMD has been the topic of several recent research reports. Royal Bank Of Canada upped their price objective on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. UBS Group upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research note on Wednesday, November 26th. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, KeyCorp lifted their target price on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st.

Get Our Latest Stock Analysis on ResMed

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total value of $504,100.00. Following the completion of the transaction, the director owned 66,110 shares in the company, valued at $16,663,025.50. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Witte Jan De sold 2,055 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total transaction of $524,025.00. Following the completion of the sale, the director directly owned 4,261 shares of the company’s stock, valued at $1,086,555. This trade represents a 32.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,662 shares of company stock worth $5,443,526 in the last ninety days. 0.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. grew its stake in shares of ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. Imprint Wealth LLC purchased a new position in ResMed in the third quarter valued at about $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the 2nd quarter valued at approximately $26,000. Sunbelt Securities Inc. acquired a new stake in ResMed during the 3rd quarter valued at approximately $31,000. Finally, Westside Investment Management Inc. increased its holdings in ResMed by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Trading Up 1.1%

Shares of RMD opened at $250.99 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed has a 1-year low of $199.92 and a 1-year high of $293.81. The stock has a market cap of $36.63 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87. The firm has a 50 day simple moving average of $260.53 and a 200-day simple moving average of $263.63.

ResMed (NYSE:RMD – Get Free Report) last posted its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. Equities analysts forecast that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio is presently 24.56%.

ResMed Company Profile

(Get Free Report)

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.

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