Brokerages Set ResMed Inc. (NYSE:RMD) PT at $251.00

Shares of ResMed Inc. (NYSE:RMD - Get Free Report) have received a consensus rating of "Moderate Buy" from the fifteen brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $250.08.

A number of brokerages have issued reports on RMD. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They set a "buy" rating for the company. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Finally, Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th.

ResMed Stock Performance

Shares of ResMed stock traded up $4.74 during midday trading on Friday, hitting $218.82. The company had a trading volume of 224,554 shares, compared to its average volume of 1,039,666. The business's 50 day simple moving average is $222.11 and its two-hundred day simple moving average is $234.16. The stock has a market cap of $32.14 billion, a PE ratio of 25.83, a P/E/G ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed has a 1-year low of $179.00 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, equities analysts predict that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.97%. ResMed's payout ratio is currently 25.03%.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock worth $11,298,816. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ResMed

Several large investors have recently made changes to their positions in RMD. Global X Japan Co. Ltd. lifted its position in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Colonial Trust Co SC lifted its position in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new stake in ResMed in the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. lifted its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in ResMed in the 4th quarter valued at $39,000. Institutional investors own 54.98% of the company's stock.

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.