Brokerages Set ResMed Inc. (RMD) PT at $77.67

ResMed Inc. (NYSE:RMD) has earned an average recommendation of “Hold” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $77.67.

Several research firms have recently issued reports on RMD. Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Goldman Sachs Group started coverage on shares of ResMed in a research report on Sunday, July 1st. They set a “buy” rating for the company.

ResMed stock opened at $102.98 on Wednesday. ResMed has a 1 year low of $77.71 and a 1 year high of $116.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.08 and a quick ratio of 1.56. The company has a market capitalization of $14.99 billion, a PE ratio of 29.75, a PEG ratio of 2.68 and a beta of 0.87.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. ResMed had a return on equity of 24.74% and a net margin of 13.49%. The company had revenue of $623.63 million during the quarter, compared to the consensus estimate of $622.78 million. During the same quarter in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that ResMed will post 3.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Wednesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.35. ResMed’s dividend payout ratio is currently 41.93%.

In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction that occurred on Monday, October 15th. The shares were sold at an average price of $103.16, for a total transaction of $206,320.00. Following the completion of the sale, the chief financial officer now owns 71,232 shares of the company’s stock, valued at approximately $7,348,293.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David Pendarvis sold 2,810 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $106.20, for a total transaction of $298,422.00. Following the sale, the insider now directly owns 101,893 shares of the company’s stock, valued at approximately $10,821,036.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,420 shares of company stock valued at $1,468,482 in the last three months. Insiders own 1.24% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in RMD. Meeder Asset Management Inc. acquired a new stake in ResMed during the 2nd quarter valued at approximately $131,000. Qube Research & Technologies Ltd bought a new position in shares of ResMed during the 2nd quarter worth approximately $148,000. Piedmont Investment Advisors LLC bought a new position in shares of ResMed during the 2nd quarter worth approximately $167,000. Cornerstone Wealth Management LLC bought a new position in shares of ResMed during the 2nd quarter worth approximately $167,000. Finally, Cerebellum GP LLC bought a new position in shares of ResMed during the 3rd quarter worth approximately $186,000. 63.91% of the stock is owned by institutional investors and hedge funds.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading: Moving Average (MA)

Analyst Recommendations for ResMed (NYSE:RMD)

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