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

Shares of ResMed Inc. (NYSE:RMD) have been given an average rating of “Moderate Buy” by the thirteen ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $218.18.

A number of research analysts have recently commented on RMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, KeyCorp increased their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

ResMed Trading Down 0.7 %

NYSE RMD opened at $232.29 on Tuesday. The business’s fifty day moving average is $234.03 and its 200-day moving average is $213.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The stock has a market capitalization of $34.13 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.16 and a beta of 0.69. ResMed has a one year low of $132.24 and a one year high of $255.18.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Equities research analysts predict that ResMed will post 9.02 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is currently 32.57%.

Insider Activity

In related news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the transaction, the general counsel now owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,248 shares of company stock worth $20,091,478. 1.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in ResMed by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after acquiring an additional 173,635 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares during the period. Los Angeles Capital Management LLC raised its holdings in ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after buying an additional 241,195 shares during the last quarter. Greenvale Capital LLP raised its holdings in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in ResMed by 15.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after buying an additional 95,689 shares during the period. Institutional investors own 54.98% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.