ResMed Inc. (NYSE:RMD) Given Consensus Recommendation of "Hold" by Brokerages

ResMed Inc. (NYSE:RMD - Get Free Report) has earned a consensus recommendation of "Hold" from the twelve research firms that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $231.20.

A number of research firms have recently commented on RMD. Baird R W upgraded ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Stifel Nicolaus began coverage on shares of ResMed in a research report on Friday, December 13th. They set a "hold" rating and a $250.00 price objective for the company. KeyCorp lifted their target price on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Wolfe Research reissued an "underperform" rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, October 25th.

Insiders Place Their Bets

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares of the company's stock, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. This represents a 16.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,359 shares of company stock valued at $3,735,309. Insiders own 0.71% of the company's stock.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp boosted its stake in ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after buying an additional 116,918 shares during the period. Geode Capital Management LLC lifted its holdings in shares of ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock worth $225,578,000 after purchasing an additional 13,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in ResMed by 0.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock valued at $181,237,000 after purchasing an additional 2,406 shares during the last quarter. Finally, Greenvale Capital LLP raised its position in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Stock Performance

RMD stock traded down $0.53 during midday trading on Thursday, hitting $235.87. 878,730 shares of the stock traded hands, compared to its average volume of 709,030. ResMed has a 1-year low of $168.29 and a 1-year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock's fifty day simple moving average is $240.05 and its 200-day simple moving average is $230.52. The firm has a market cap of $34.62 billion, a P/E ratio of 31.24, a PEG ratio of 1.73 and a beta of 0.70.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $1.64 EPS. On average, analysts expect that ResMed will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed's dividend payout ratio is presently 28.08%.

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.