Brokerages Set ResMed Inc. (NYSE:RMD) Price Target at $231.20

Shares of ResMed Inc. (NYSE:RMD) have earned a consensus rating of “Hold” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $233.09.

A number of analysts have issued reports on the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. KeyCorp lifted their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America boosted their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada boosted their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th.

ResMed Stock Down 1.4 %

NYSE RMD opened at $230.55 on Thursday. The stock’s 50 day moving average is $239.58 and its 200 day moving average is $231.80. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed has a 12 month low of $168.29 and a 12 month high of $260.49. The stock has a market cap of $33.84 billion, a PE ratio of 30.54, a P/E/G ratio of 1.73 and a beta of 0.70.

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

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock valued at $2,719,385 in the last quarter. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On ResMed

Hedge funds have recently made changes to their positions in the company. True Wealth Design LLC lifted its holdings in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the 3rd quarter worth $34,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed during the 3rd quarter worth $60,000. Quest Partners LLC lifted its stake in shares of ResMed by 44.1% during the 2nd quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 100 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.