Brokerages Set ResMed Inc. (NYSE:RMD) PT at $267.13

ResMed Inc. (NYSE:RMDGet Rating) has earned a consensus rating of “Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $267.13.

Several research firms recently issued reports on RMD. Bank of America raised shares of ResMed from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $239.00 to $250.00 in a research note on Monday, January 24th. Robert W. Baird dropped their target price on shares of ResMed from $300.00 to $280.00 in a report on Friday, January 28th. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday, January 31st. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Wolfe Research assumed coverage on shares of ResMed in a research report on Tuesday, April 5th. They set an “outperform” rating and a $280.00 price objective for the company.

In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $242.37, for a total transaction of $1,375,449.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David Pendarvis sold 1,544 shares of the company’s stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $250.62, for a total transaction of $386,957.28. The disclosure for this sale can be found here. Insiders sold a total of 41,114 shares of company stock valued at $9,497,701 in the last quarter. Corporate insiders own 1.42% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. Comprehensive Financial Consultants Institutional Inc. bought a new position in ResMed during the fourth quarter worth $25,000. Amplius Wealth Advisors LLC bought a new position in ResMed during the fourth quarter worth $26,000. D Orazio & Associates Inc. acquired a new position in ResMed during the third quarter worth $30,000. CVA Family Office LLC acquired a new position in ResMed during the fourth quarter worth $31,000. Finally, GHP Investment Advisors Inc. acquired a new position in ResMed during the first quarter worth $33,000. 65.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:RMD traded up $0.92 during trading on Tuesday, reaching $197.83. 545,195 shares of the company traded hands, compared to its average volume of 596,553. The firm has a fifty day simple moving average of $230.04 and a 200 day simple moving average of $242.71. The firm has a market cap of $28.94 billion, a P/E ratio of 37.26, a price-to-earnings-growth ratio of 2.18 and a beta of 0.45. ResMed has a 1-year low of $189.40 and a 1-year high of $301.34. The company has a quick ratio of 1.56, a current ratio of 2.55 and a debt-to-equity ratio of 0.20.

ResMed (NYSE:RMDGet Rating) last issued its earnings results on Thursday, April 28th. The medical equipment provider reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.12). The company had revenue of $864.50 million for the quarter, compared to analyst estimates of $900.03 million. ResMed had a net margin of 22.02% and a return on equity of 26.91%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned $1.30 EPS. As a group, research analysts anticipate that ResMed will post 5.73 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, May 12th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, May 11th. ResMed’s dividend payout ratio (DPR) is 31.64%.

About ResMed (Get Rating)

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 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.

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