ResMed Inc. (NYSE:RMD) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of ResMed Inc. (NYSE:RMD - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $249.73.

Several brokerages recently issued reports on RMD. Piper Sandler increased their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective on the stock. KeyCorp boosted their target price on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Finally, Stifel Nicolaus decreased 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.

Insider Activity

In other news, insider Kaushik Ghoshal sold 9,113 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares of the company's stock, valued at $2,289,265. This trade represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now directly 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. Insiders sold a total of 38,940 shares of company stock valued at $9,164,385 over the last three months. Corporate insiders own 0.71% of the company's stock.

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Institutional Trading of ResMed

A number of large investors have recently added to or reduced their stakes in the stock. Howard Capital Management Inc. grew its position in shares of ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock valued at $206,000 after acquiring an additional 45 shares during the period. Ascent Group LLC grew its holdings in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider's stock valued at $714,000 after purchasing an additional 48 shares during the period. SkyView Investment Advisors LLC grew its holdings in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock valued at $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital increased its position in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock worth $475,000 after buying an additional 52 shares during the last quarter. Finally, Faithward Advisors LLC raised its stake in shares of ResMed by 4.3% in the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock valued at $292,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Trading Up 0.3 %

RMD stock traded up $0.74 during midday trading on Tuesday, hitting $222.62. The stock had a trading volume of 484,081 shares, compared to its average volume of 952,497. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market cap of $32.69 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The business has a fifty day moving average price of $234.10 and a two-hundred day moving average price of $238.43. ResMed has a 1-year low of $172.19 and a 1-year high of $263.05.

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

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.95%. ResMed's dividend payout ratio is currently 25.03%.

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.