ResMed (NYSE:RMD) PT Raised to $238.00

ResMed (NYSE:RMD) had its target price upped by equities research analysts at KeyCorp from $227.00 to $238.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price target would suggest a potential upside of 29.75% from the stock’s current price.

Several other research firms also recently issued reports on RMD. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Mizuho reiterated a “buy” rating and issued a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer upped their target price on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada upped their target price on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $201.50.

ResMed Stock Down 0.2 %

NYSE:RMD opened at $183.43 on Friday. The firm has a market cap of $26.98 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The company has a 50-day moving average of $186.31 and a 200 day moving average of $171.47. ResMed has a 1-year low of $132.24 and a 1-year high of $243.52.

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

Insider Activity at ResMed

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in ResMed by 230.3% during the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after buying an additional 2,658,709 shares during the period. Norges Bank acquired a new position in shares of ResMed in the 4th quarter worth approximately $233,966,000. Morgan Stanley lifted its holdings in shares of ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after purchasing an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in ResMed during the 4th quarter valued at $117,621,000. Finally, Los Angeles Capital Management LLC raised its stake in ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after acquiring an additional 485,540 shares in the last quarter. Institutional investors and hedge funds 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.