Analysts Set ResMed Inc. (NYSE:RMD) Target Price at $231.20

Shares of ResMed Inc. (NYSE:RMD) have been given an average recommendation of “Hold” by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $233.09.

A number of analysts have recently commented on the company. Bank of America lifted their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Piper Sandler started coverage on shares of ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price target on the stock. Finally, Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th.

ResMed Stock Performance

ResMed stock opened at $233.01 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The stock has a market cap of $34.21 billion, a PE ratio of 30.86, a P/E/G ratio of 1.69 and a beta of 0.70. ResMed has a 12-month low of $168.29 and a 12-month high of $260.49. The business’s 50-day moving average price is $239.24 and its two-hundred day moving average price is $232.06.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $1.64 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts expect that ResMed will post 9.36 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares in the company, valued at approximately $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Witte Jan De sold 796 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock worth $2,719,385 in the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of large investors have recently bought and sold shares of the stock. True Wealth Design LLC raised its stake in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the 3rd quarter valued at $34,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the 4th quarter worth $54,000. Capital Performance Advisors LLP purchased a new position in shares of ResMed in the 3rd quarter worth about $60,000. Finally, Quest Partners LLC grew its position in ResMed by 44.1% during the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 100 shares during the period. 54.98% of the stock is currently 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. 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.