A correction may be in store for ResMed Inc. (NYSE:RMD) shares?

In the latest session, ResMed Inc. (NYSE: RMD) closed at $234.73 up 2.37% from its previous closing price of $229.30. In other words, the price has increased by $+5.43 from its previous closing price. On the day, 914569 shares were traded. RMD stock price reached its highest trading level at $235.62 during the session, while it also had its lowest trading level at $229.63.

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For a deeper understanding of ResMed Inc.’s stock, let’s take a closer look at its various ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 162.11 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 440.23. For the most recent quarter (mrq), Quick Ratio is recorded 1.70 and its Current Ratio is at 2.90. In the meantime, Its Debt-to-Equity ratio is 0.23 whereas as Long-Term Debt/Eq ratio is at 0.23.

Upgrades & Downgrades

BofA Securities Upgraded its Neutral to Buy on October 20, 2022, whereas the target price for the stock was revised from $245 to $260.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Jan 17 when Douglas Robert Andrew sold 1,500 shares for $220.43 per share. The transaction valued at 330,645 led to the insider holds 226,208 shares of the business.

Farrell Michael J. sold 5,675 shares of RMD for $1,273,269 on Jan 17. The Chief Executive Officer now owns 436,900 shares after completing the transaction at $224.36 per share. On Jan 03, another insider, PENDARVIS DAVID, who serves as the Chief Administrative Officer of the company, sold 1,500 shares for $210.07 each. As a result, the insider received 315,105 and left with 97,172 shares of the company.

Valuation Measures:

As of this moment, ResMed’s Price-to-Earnings (P/E) ratio for their current fiscal year is 43.90, and their Forward P/E ratio for the next fiscal year is 32.15. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 4.14. For the stock, the TTM Price-to-Sale (P/S) ratio is 9.27 while its Price-to-Book (P/B) ratio in mrq is 10.01.

Stock Price History:

Over the past 52 weeks, RMD has reached a high of $262.38, while it has fallen to a 52-week low of $189.40. The 50-Day Moving Average of the stock is 218.55, while the 200-Day Moving Average is calculated to be 219.67.

Shares Statistics:

For the past three months, RMD has traded an average of 580.21K shares per day and 722.1k over the past ten days. A total of 146.43M shares are outstanding, with a floating share count of 144.57M. Insiders hold about 0.70% of the company’s shares, while institutions hold 67.40% stake in the company. Shares short for RMD as of Oct 13, 2022 were 1.23M with a Short Ratio of 1.01M, compared to 1.51M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 0.84% and a Short% of Float of 0.96%.

Dividends & Splits

According to the company, the forward annual dividend rate for RMD is 1.76, from 1.56 in the trailing year. Against a Trailing Annual Dividend Yield of 0.68%, it implies a Forward Annual Dividend Yield of 0.75%. The stock’s 5-year Average Dividend Yield is 1.02. The current Payout Ratio is 31.60% for RMD, which recently paid a dividend on Dec 14, 2022 with an ex-dividend date of Aug 16, 2022. Stock splits for the company last occurred on Aug 30, 2010 when the company split stock in a 2:1 ratio.

Earnings Estimates

There are 6 different market analysts currently analyzing its stock. On average, analysts expect EPS of $1.58 for the current quarter, with a high estimate of $1.64 and a low estimate of $1.53, while EPS last year was $1.47. The consensus estimate for the next quarter is $1.59, with high estimates of $1.63 and low estimates of $1.56.

Analysts are recommending an EPS of between $6.89 and $6.25 for the fiscal current year, implying an average EPS of $6.51. EPS for the following year is $7.32, with 10 analysts recommending between $8.4 and $6.71.

Revenue Estimates

A total of 15 analysts have provided revenue estimates for RMD’s current fiscal year. The highest revenue estimate was $4.2B, while the lowest revenue estimate was $3.74B, resulting in an average revenue estimate of $3.98B. In the same quarter a year ago, actual revenue was $3.58B, up 11.20% from the average estimate. Based on 15 analysts’ estimates, the company’s revenue will be $4.3B in the next fiscal year. The high estimate is $4.79B and the low estimate is $3.93B. The average revenue growth estimate for next year is up 8.10% from the average revenue estimate for this year.