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

Shares of ResMed Inc. (NYSE:RMD) have earned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $250.00.

RMD has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Evercore set a $255.00 price objective on shares of ResMed and gave the stock an “outperform” rating in a research note on Monday, April 13th. Jefferies Financial Group cut their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Finally, Royal Bank Of Canada lowered ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price on the stock. in a research note on Thursday.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total transaction of $1,090,783.05. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,973 shares of company stock valued at $3,096,067 in the last quarter. 0.65% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RMD. First Trust Advisors LP grew its stake in ResMed by 240.9% in the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after acquiring an additional 1,072,394 shares during the period. Norges Bank acquired a new stake in shares of ResMed during the fourth quarter worth $249,068,000. Deutsche Bank AG boosted its holdings in shares of ResMed by 126.0% during the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after purchasing an additional 787,949 shares during the last quarter. Amundi grew its position in shares of ResMed by 123.9% in the first quarter. Amundi now owns 1,062,184 shares of the medical equipment provider’s stock valued at $238,439,000 after purchasing an additional 587,872 shares during the period. Finally, Morgan Stanley grew its position in shares of ResMed by 25.0% in the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after purchasing an additional 578,559 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Stock Down 0.1%

ResMed stock opened at $198.86 on Monday. ResMed has a fifty-two week low of $180.26 and a fifty-two week high of $293.81. The firm has a market capitalization of $28.85 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.19 and a beta of 0.78. The stock’s fifty day moving average is $199.40 and its two-hundred day moving average is $226.52. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the company posted $2.37 EPS. The business’s revenue was up 10.8% on a year-over-year basis. Analysts predict that ResMed will post 11.13 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 14th. ResMed’s payout ratio is 23.14%.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.