Brokerages Set ResMed Inc. (NYSE:RMD) PT at $294.20

ResMed Inc. (NYSE:RMD) has been given an average rating of “Moderate Buy” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $292.9091.

RMD has been the subject of several research reports. Citigroup initiated coverage on ResMed in a research note on Thursday, September 18th. They set a “buy” rating and a $330.00 target price for the company. Wells Fargo & Company initiated coverage on ResMed in a research note on Monday. They set an “equal weight” rating and a $280.00 target price for the company. KeyCorp raised their target price on ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Royal Bank Of Canada raised their target price on ResMed from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus raised their target price on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 1st.

Insider Activity at ResMed

In related news, Director John Hernandez sold 2,575 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total value of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $282.85, for a total value of $2,265,345.65. Following the completion of the transaction, the chief executive officer owned 467,792 shares of the company’s stock, valued at $132,314,967.20. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,743 shares of company stock worth $5,284,514 in the last quarter. 0.65% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently bought and sold shares of the business. Annex Advisory Services LLC acquired a new stake in ResMed during the 3rd quarter worth about $204,000. Ethic Inc. boosted its position in ResMed by 98.1% during the 3rd quarter. Ethic Inc. now owns 17,736 shares of the medical equipment provider’s stock worth $4,855,000 after acquiring an additional 8,784 shares during the period. Institute for Wealth Management LLC. boosted its position in ResMed by 6.2% during the 3rd quarter. Institute for Wealth Management LLC. now owns 1,069 shares of the medical equipment provider’s stock worth $293,000 after acquiring an additional 62 shares during the period. Valley National Advisers Inc. boosted its position in ResMed by 2.5% during the 3rd quarter. Valley National Advisers Inc. now owns 7,655 shares of the medical equipment provider’s stock worth $2,094,000 after acquiring an additional 184 shares during the period. Finally, Perigon Wealth Management LLC boosted its position in ResMed by 9.4% during the 3rd quarter. Perigon Wealth Management LLC now owns 24,482 shares of the medical equipment provider’s stock worth $6,701,000 after acquiring an additional 2,110 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Price Performance

Shares of RMD opened at $267.96 on Friday. The stock’s fifty day moving average is $277.13 and its 200-day moving average is $257.12. ResMed has a one year low of $199.92 and a one year high of $293.81. The firm has a market capitalization of $39.11 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 1.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the business posted $2.08 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that ResMed will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were given a $0.60 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s dividend payout ratio is 25.24%.

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.