Brokerages Set ResMed Inc. (NYSE:RMD) Price Target at $297.45

Shares of ResMed Inc. (NYSE:RMD) have been assigned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $297.4545.

A number of equities analysts have recently weighed in on RMD shares. Mizuho dropped their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Wells Fargo & Company began coverage on ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 target price on the stock. UBS Group raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Finally, William Blair upgraded ResMed to a “strong-buy” rating in a report on Friday, August 1st.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 100 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John Hernandez sold 2,575 shares of ResMed stock in a transaction on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,684 shares of company stock valued at $3,032,064. Company insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently made changes to their positions in RMD. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of ResMed in the second quarter valued at approximately $26,000. Westside Investment Management Inc. boosted its position in shares of ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 66 shares during the period. GoalVest Advisory LLC acquired a new stake in shares of ResMed in the third quarter worth $37,000. Finally, IMA Advisory Services Inc. increased its position in ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 48 shares during the period. 54.98% of the stock is currently owned by institutional investors.

ResMed Price Performance

Shares of RMD opened at $251.41 on Wednesday. The business’s 50-day moving average is $268.54 and its 200-day moving average is $261.99. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The company has a market capitalization of $36.69 billion, a price-to-earnings ratio of 26.44, a P/E/G ratio of 1.75 and a beta of 0.87. ResMed has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, November 13th. ResMed’s payout ratio is presently 24.56%.

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.