Brokerages Set ResMed Inc. (NYSE:RMD) Price Target at $167.50

ResMed Inc. (NYSE:RMD) has been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $167.50.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered ResMed from a “neutral” rating to an “underweight” rating in a research report on Friday, May 1st. Morgan Stanley lowered ResMed from an “overweight” rating to an “equal weight” rating and set a $165.00 price target on the stock. in a research report on Tuesday, February 18th. They noted that the move was a valuation call. Needham & Company LLC assumed coverage on ResMed in a research report on Thursday, April 30th. They set a “hold” rating on the stock. William Blair reissued a “buy” rating on shares of ResMed in a research report on Tuesday, March 24th. Finally, Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a research report on Thursday, March 26th.

In other news, insider Rajwant Sodhi sold 1,500 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $164.00, for a total transaction of $246,000.00. Following the completion of the sale, the insider now owns 32,670 shares in the company, valued at approximately $5,357,880. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James Hollingshead sold 1,200 shares of the company’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $180,000.00. Following the sale, the insider now owns 94,565 shares of the company’s stock, valued at approximately $14,184,750. The disclosure for this sale can be found here. Insiders sold 18,278 shares of company stock worth $2,895,235 in the last 90 days. Corporate insiders own 1.22% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMD. Country Trust Bank bought a new position in ResMed in the 1st quarter valued at $29,000. Westside Investment Management Inc. bought a new position in shares of ResMed in the 1st quarter worth $32,000. Globeflex Capital L P bought a new position in shares of ResMed in the 1st quarter worth $34,000. Balentine LLC bought a new position in shares of ResMed in the 1st quarter worth $34,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of ResMed by 476.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 346 shares of the medical equipment provider’s stock worth $51,000 after purchasing an additional 286 shares during the last quarter. Institutional investors own 67.17% of the company’s stock.

NYSE:RMD traded up $2.49 during midday trading on Monday, reaching $160.69. 783,212 shares of the company traded hands, compared to its average volume of 599,425. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.66 and a quick ratio of 2.01. ResMed has a twelve month low of $108.85 and a twelve month high of $177.99. The company has a fifty day moving average price of $161.20 and a 200 day moving average price of $158.20. The firm has a market capitalization of $22.89 billion, a price-to-earnings ratio of 45.52, a price-to-earnings-growth ratio of 2.55 and a beta of 0.50.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $1.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.29. The company had revenue of $769.50 million during the quarter, compared to analyst estimates of $717.70 million. ResMed had a return on equity of 29.26% and a net margin of 17.73%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. On average, equities research analysts forecast that ResMed will post 4.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.97%. ResMed’s dividend payout ratio (DPR) is currently 42.86%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading: Net Income

Analyst Recommendations for ResMed (NYSE:RMD)

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