ResMed Inc. (NYSE:RMD) Given Average Recommendation of “Hold” by Brokerages

ResMed Inc. (NYSE:RMD) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $204.70.

Several equities research analysts have issued reports on RMD shares. Royal Bank of Canada boosted their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. KeyCorp upped their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC downgraded shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 target price for the company. in a research note on Wednesday, September 4th.

ResMed Price Performance

RMD opened at $250.71 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. ResMed has a 52-week low of $132.24 and a 52-week high of $255.18. The company has a 50 day moving average of $220.87 and a two-hundred day moving average of $206.37. The company has a market cap of $36.84 billion, a P/E ratio of 38.51, a P/E/G ratio of 2.51 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts expect that ResMed will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be issued a $0.53 dividend. The ex-dividend date is Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.85%. ResMed’s dividend payout ratio is currently 32.57%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at $85,060,983.03. The disclosure for this sale can be found here. Insiders have sold 97,931 shares of company stock valued at $21,382,007 over the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in shares of ResMed by 11,960.3% during the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after acquiring an additional 22,007 shares during the last quarter. Natixis Advisors L.P. grew its position in shares of ResMed by 12.4% during the fourth quarter. Natixis Advisors L.P. now owns 35,447 shares of the medical equipment provider’s stock worth $6,097,000 after acquiring an additional 3,923 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of ResMed by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after acquiring an additional 64 shares during the last quarter. National Bank of Canada FI grew its position in shares of ResMed by 11.1% during the fourth quarter. National Bank of Canada FI now owns 38,194 shares of the medical equipment provider’s stock worth $6,561,000 after acquiring an additional 3,802 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of ResMed during the fourth quarter worth about $451,000. 54.98% 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 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.