ResMed Inc. (NYSE:RMD) Receives Consensus “Buy” Rating from Analysts

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Shares of ResMed Inc. (NYSE:RMD – Get Rating) have been given an average rating of “Buy” by the fifteen research firms that cover the company, reports MarketBeat Ratings. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The 12-month average target price among brokers who have hedged the stock over the past year is $267.13.

Several research companies have recently commented on RMD. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a Monday, January 31 research report. Robert W. Baird lowered his price target on ResMed from $300.00 to $280.00 in a Friday, January 28 research note. Royal Bank of Canada upgraded ResMed from an “underperforming” rating to an “sector performing” rating and raised its target price for the company from $234.00 to $241.00 in a research note from Friday, January 28. Bank of America upgraded ResMed from an “underperforming” rating to a “neutral” rating and raised its price target for the company from $239.00 to $250.00 in a Monday, January 24 report. Finally, Wolfe Research threw some coverage on ResMed in a Tuesday, April 5 report. They set an “outperform” rating and a price target of $280.00 for the company.

In other ResMed news, Chief Financial Officer Brett Sandercock sold 2,500 shares of the company in a trade dated Thursday, February 10. The shares were sold at an average price of $241.86, for a total transaction of $604,650.00. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Michael J. Farrell sold 5,675 shares of the company in a trade dated Tuesday, February 15. The stock was sold at an average price of $234.06, for a total transaction of $1,328,290.50. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 43,614 shares of the company worth $10,314,879. 1.42% of the shares are currently held by company insiders.

Several hedge funds have recently changed their positions in RMD. Comprehensive Financial Consultants Institutional Inc. acquired a new position in shares of ResMed in Q4 worth approximately $25,000. Amplius Wealth Advisors LLC acquired a new position in ResMed during Q4 worth approximately $26,000. D Orazio & Associates Inc. acquired a new position in ResMed during Q3 worth approximately $30,000. CVA Family Office LLC acquired a new stake in ResMed during Q4 valued at approximately $31,000. Finally, GHP Investment Advisors Inc. acquired a new stake in ResMed during Q1 worth approximately $33,000. Institutional investors and hedge funds hold 65.24% of the company’s shares.

RMD shares opened at $192.74 on Tuesday. The company has a debt ratio of 0.20, a quick ratio of 1.56 and a current ratio of 2.55. The company has a market capitalization of $28.19 billion, a P/E ratio of 36.30, a PEG ratio of 2.24 and a beta of 0.45. The stock has a 50-day moving average price of $236.34 and a two-hundred-day moving average price of $245.58. ResMed has a fifty-two week low of $189.83 and a fifty-two week high of $301.34.

ResMed (NYSE:RMD – Get Rating) last released its quarterly earnings data on Thursday, April 28. The medical equipment supplier reported earnings per share (EPS) of $1.32 for the quarter, missing analyst consensus estimates of $1.44 per ($0.12). The company posted revenue of $864.50 million in the quarter, versus a consensus estimate of $900.03 million. ResMed had a return on equity of 26.91% and a net margin of 22.02%. ResMed’s revenue for the quarter increased 12.4% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $1.30. As a group, stock analysts predict ResMed will post 5.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 16. Shareholders of record on Thursday, May 12 will receive a dividend of $0.42 per share. The ex-dividend date is Wednesday, May 11. This represents an annualized dividend of $1.68 and a yield of 0.87%. ResMed’s dividend payout ratio (DPR) is currently 31.64%.

About ResMed (Get a rating)

ResMed Inc develops, manufactures, distributes and markets cloud-based medical devices and software applications for 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 technologies for application in medical and consumer products, ventilator devices, diagnostic products, mask systems for hospital and home use. , helmets and other accessories, dental appliances and the cloud. software-based IT solutions to manage patient outcomes, as well as to deliver customer and business processes.

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