Analysts Set ResMed Inc. (NYSE:RMD) PT at $202.80

Shares of ResMed Inc. (NYSE:RMD) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $202.80.

A number of equities research analysts have recently issued reports on RMD shares. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer decreased their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research report on Friday, April 26th. KeyCorp lifted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th.

ResMed Price Performance

Shares of RMD opened at $216.94 on Friday. ResMed has a one year low of $132.24 and a one year high of $237.26. The stock’s fifty day moving average is $191.19 and its 200-day moving average is $175.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The firm has a market capitalization of $31.87 billion, a price-to-earnings ratio of 33.32, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 earnings per share. Equities analysts anticipate that ResMed will post 7.59 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

Insiders Place Their Bets

In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Karen Drexler sold 425 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The disclosure for this sale can be found here. Insiders have sold a total of 11,641 shares of company stock valued at $2,137,958 in the last three months. Insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed in the fourth quarter valued at about $27,000. Operose Advisors LLC bought a new position in shares of ResMed in the third quarter worth about $32,000. Hall Laurie J Trustee acquired a new position in shares of ResMed during the 1st quarter worth about $32,000. Finally, Planned Solutions Inc. bought a new stake in ResMed during the 4th quarter valued at approximately $34,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.