ResMed Inc. (NYSE:RMD) Receives $299.27 Consensus PT from Analysts

Shares of ResMed Inc. (NYSE:RMD) have earned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $299.2727.

RMD has been the topic of several recent research reports. Robert W. Baird set a $281.00 price objective on ResMed in a research note on Friday, January 30th. Piper Sandler raised their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Stifel Nicolaus lifted their price target on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research note on Friday, December 12th. Finally, Morgan Stanley set a $305.00 price objective on shares of ResMed in a research report on Friday, October 31st.

ResMed Trading Up 1.2%

Shares of ResMed stock opened at $255.63 on Friday. ResMed has a 1-year low of $199.92 and a 1-year high of $293.81. The company’s fifty day simple moving average is $252.79 and its 200-day simple moving average is $262.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock has a market capitalization of $37.24 billion, a PE ratio of 25.28, a P/E/G ratio of 1.68 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.ResMed’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. As a group, equities analysts anticipate that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Insider Transactions at ResMed

In related news, Director Witte Jan De sold 2,055 shares of ResMed stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $255.00, for a total transaction of $524,025.00. Following the sale, the director owned 4,261 shares of the company’s stock, valued at approximately $1,086,555. This trade represents a 32.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares of the company’s stock, valued at $16,278,102.63. The trade was a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,137 shares of company stock valued at $4,658,832 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Institutional Trading of ResMed

A number of institutional investors and hedge funds have recently bought and sold shares of RMD. Johnson Investment Counsel Inc. grew its position in shares of ResMed by 2.8% during the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after purchasing an additional 45 shares in the last quarter. Quadcap Wealth Management LLC boosted its stake in ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 45 shares during the last quarter. Terra Nova Asset Management LLC grew its holdings in ResMed by 0.6% during the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after buying an additional 46 shares in the last quarter. NBT Bank N A NY grew its holdings in ResMed by 22.9% during the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 47 shares in the last quarter. Finally, OFI Invest Asset Management increased its stake in ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 48 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.