ResMed Inc. (NYSE:RMD) Receives $299.27 Average Target Price from Brokerages

ResMed Inc. (NYSE:RMD) has been given a consensus recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $299.2727.

A number of equities research analysts have issued reports on RMD shares. Wells Fargo & Company increased their price target on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. Wall Street Zen raised ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings upgraded shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. Royal Bank Of Canada raised their target price on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, KeyCorp reiterated an “overweight” rating and set a $302.00 price target on shares of ResMed in a report on Friday, January 30th.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total value of $520,440.00. Following the transaction, the director directly owned 62,773 shares of the company’s stock, valued at $16,334,790.06. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,073 shares of company stock worth $5,405,198. 0.65% of the stock is owned by corporate insiders.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMD. Norges Bank acquired a new stake in ResMed during the 2nd quarter worth approximately $306,452,000. First Trust Advisors LP increased its holdings in shares of ResMed by 240.9% in the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after purchasing an additional 1,072,394 shares during the period. Deutsche Bank AG grew its position in ResMed by 126.0% in the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock valued at $340,464,000 after buying an additional 787,949 shares during the last quarter. Morgan Stanley increased its stake in ResMed by 25.0% in the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock valued at $696,523,000 after buying an additional 578,559 shares during the period. Finally, Swedbank AB increased its stake in ResMed by 103.1% in the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after buying an additional 559,765 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Trading Down 3.1%

Shares of NYSE RMD opened at $232.64 on Tuesday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $33.89 billion, a PE ratio of 23.01, a PEG ratio of 1.59 and a beta of 0.88. ResMed has a twelve month low of $199.92 and a twelve month high of $293.81. The stock has a fifty day simple moving average of $255.32 and a 200-day simple moving average of $258.93.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the firm posted $2.43 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, equities analysts forecast that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s payout ratio is presently 23.74%.

ResMed Company Profile

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.