BMO Capital Markets Increases ResMed (RMD) Price Target to $82.00
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.
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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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.
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