ResMed (NYSE:RMD) Given New $200.00 Price Target at Oppenheimer

ResMed (NYSE:RMD) had its target price dropped by equities researchers at Oppenheimer from $205.00 to $200.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s price target suggests a potential downside of 7.91% from the company’s current price.

RMD has been the topic of several other reports. Needham & Company LLC increased their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday. Royal Bank of Canada increased their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday. JPMorgan Chase & Co. increased their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. KeyCorp increased their price target on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group increased their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Stock Performance

NYSE:RMD traded up $33.75 during mid-day trading on Friday, hitting $217.17. The stock had a trading volume of 2,970,459 shares, compared to its average volume of 1,038,592. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52. The stock has a market cap of $31.94 billion, a price-to-earnings ratio of 35.71, a PEG ratio of 2.25 and a beta of 0.67. The company’s 50 day simple moving average is $186.31 and its 200 day simple moving average is $171.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period last year, the business posted $1.68 EPS. ResMed’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that ResMed will post 7.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. AE Wealth Management LLC grew its stake in shares of ResMed by 35.9% during the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock worth $972,000 after buying an additional 1,738 shares during the last quarter. Caprock Group LLC grew its stake in shares of ResMed by 7.6% during the third quarter. Caprock Group LLC now owns 1,991 shares of the medical equipment provider’s stock worth $294,000 after buying an additional 141 shares during the last quarter. Czech National Bank grew its stake in shares of ResMed by 47.7% during the third quarter. Czech National Bank now owns 25,681 shares of the medical equipment provider’s stock worth $3,797,000 after buying an additional 8,288 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of ResMed by 1.1% during the third quarter. Handelsbanken Fonder AB now owns 57,373 shares of the medical equipment provider’s stock worth $8,484,000 after buying an additional 644 shares during the last quarter. Finally, Simplicity Solutions LLC grew its stake in shares of ResMed by 41.6% during the third quarter. Simplicity Solutions LLC now owns 2,928 shares of the medical equipment provider’s stock worth $433,000 after buying an additional 860 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.