Brokerages Set ResMed Inc. (NYSE:RMD) Price Target at $225.70

Shares of ResMed Inc. (NYSE:RMD - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve analysts that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $225.70.

Several research firms have recently weighed in on RMD. Wolfe Research reaffirmed an "underperform" rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. KeyCorp boosted their price objective on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, October 25th. Finally, Baird R W raised shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th.

Insider Activity at ResMed

In related news, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now owns 87,204 shares in the company, valued at $20,920,239.60. This represents a 2.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,174 shares of company stock valued at $14,882,278. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Sei Investments Co. lifted its holdings in shares of ResMed by 12.9% in the 1st quarter. Sei Investments Co. now owns 21,708 shares of the medical equipment provider's stock worth $4,299,000 after acquiring an additional 2,484 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of ResMed by 24.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 7,342 shares of the medical equipment provider's stock valued at $1,454,000 after buying an additional 1,436 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of ResMed by 14.7% in the first quarter. Bessemer Group Inc. now owns 1,725 shares of the medical equipment provider's stock valued at $342,000 after buying an additional 221 shares in the last quarter. Lake Street Advisors Group LLC purchased a new stake in shares of ResMed in the 1st quarter valued at $213,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in ResMed by 57.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,629 shares of the medical equipment provider's stock worth $521,000 after acquiring an additional 959 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

ResMed Stock Performance

Shares of RMD traded up $0.67 during trading hours on Wednesday, reaching $238.79. 95,097 shares of the company traded hands, compared to its average volume of 1,042,132. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average price of $242.33 and a 200-day moving average price of $223.97. ResMed has a 12-month low of $150.39 and a 12-month high of $260.49. The stock has a market capitalization of $35.05 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.71 and a beta of 0.69.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. Equities analysts anticipate that ResMed will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed's dividend payout ratio is presently 28.08%.

About ResMed

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.