Brokerages Set ResMed Inc. (NYSE:RMD) PT at $240.31

ResMed Inc. (NYSE:RMD) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $240.3077.

Several research firms recently commented on RMD. Weiss Ratings upgraded shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. UBS Group reissued a “buy” rating and set a $300.00 price objective on shares of ResMed in a research report on Tuesday, July 21st. Citigroup reissued a “neutral” rating and set a $235.00 price objective (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Robert W. Baird set a $213.00 price objective on shares of ResMed in a research note on Friday, August 7th. Finally, Rothschild & Co Redburn began coverage on shares of ResMed in a report on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 target price for the company.

ResMed Trading Down 0.0%

RMD opened at $228.25 on Tuesday. The firm has a market cap of $32.93 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. ResMed has a 52 week low of $180.26 and a 52 week high of $284.87. The business’s 50 day moving average is $216.10 and its two-hundred day moving average is $217.79. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.55 earnings per share. On average, research analysts predict that ResMed will post 12.02 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, August 20th will be given a $0.66 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s payout ratio is presently 25.31%.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of ResMed stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares in the company, valued at $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,952 shares of company stock worth $4,145,070 in the last 90 days. 0.65% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

Hedge funds have recently modified their holdings of the stock. Giverny Capital Inc. increased its stake in ResMed by 68.5% in the 2nd quarter. Giverny Capital Inc. now owns 387,665 shares of the medical equipment provider’s stock valued at $75,548,000 after buying an additional 157,660 shares during the period. California State Teachers Retirement System lifted its stake in shares of ResMed by 19,648.1% in the 2nd quarter. California State Teachers Retirement System now owns 43,963,369 shares of the medical equipment provider’s stock worth $8,567,581,000 after acquiring an additional 43,740,748 shares during the period. Paralel Advisors LLC purchased a new stake in shares of ResMed in the second quarter valued at about $2,006,000. Saudi Central Bank boosted its holdings in shares of ResMed by 89.3% in the second quarter. Saudi Central Bank now owns 10,198 shares of the medical equipment provider’s stock valued at $1,987,000 after acquiring an additional 4,810 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC increased its stake in shares of ResMed by 0.4% during the second quarter. Azimuth Capital Investment Management LLC now owns 54,490 shares of the medical equipment provider’s stock worth $10,619,000 after acquiring an additional 215 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.