ResMed (NYSE:RMD) had its target price lifted by BMO Capital Markets to $82.00 in a report issued on Tuesday morning, The Fly reports. The brokerage currently has a market perform rating on the medical equipment provider’s stock.

RMD has been the subject of several other reports. Jefferies Group reissued a sell rating and set a $56.00 price target on shares of ResMed in a research report on Thursday, October 12th. Needham & Company LLC reissued a sell rating on shares of ResMed in a research report on Friday, September 8th. Zacks Investment Research raised ResMed from a hold rating to a buy rating and set a $86.00 price target for the company in a research report on Thursday, October 12th. Barclays increased their price target on ResMed from $68.00 to $70.00 and gave the company an underweight rating in a research report on Friday, October 27th. Finally, J P Morgan Chase & Co raised their price objective on ResMed from $72.00 to $73.00 and gave the company an overweight rating in a research report on Monday, October 30th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $68.71.

Shares of ResMed (NYSE RMD) traded up $1.36 during midday trading on Tuesday, reaching $85.29. The company had a trading volume of 1,272,614 shares, compared to its average volume of 531,334. ResMed has a 1 year low of $60.13 and a 1 year high of $87.81. The company has a quick ratio of 3.86, a current ratio of 4.72 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $11,909.99, a PE ratio of 29.24, a PEG ratio of 1.85 and a beta of 0.78.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The firm had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $506.08 million. During the same period in the prior year, the firm posted $0.62 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. sell-side analysts forecast that ResMed will post 3.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th were given a $0.35 dividend. The ex-dividend date was Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.64%. ResMed’s payout ratio is 56.68%.

In other news, Director Peter C. Farrell sold 118,392 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $82.70, for a total value of $9,791,018.40. Following the completion of the sale, the director now directly owns 306,615 shares of the company’s stock, valued at $25,357,060.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The shares were sold at an average price of $77.01, for a total value of $1,540,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,693 shares of company stock valued at $15,149,955. Insiders own 1.77% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new position in shares of ResMed during the third quarter worth approximately $113,000. YorkBridge Wealth Partners LLC increased its stake in shares of ResMed by 4.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 69 shares during the period. Toronto Dominion Bank increased its stake in shares of ResMed by 12.8% during the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after purchasing an additional 197 shares during the period. BB&T Investment Services Inc. bought a new position in shares of ResMed during the second quarter worth approximately $214,000. Finally, Visionary Asset Management Inc. bought a new position in shares of ResMed during the third quarter worth approximately $214,000. Institutional investors own 62.02% of the company’s stock.

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About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

The Fly

Analyst Recommendations for ResMed (NYSE:RMD)

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