Royal Bank of Canada Increases ResMed (NYSE:RMD) Price Target to $200.00

ResMed (NYSE:RMD) had its target price boosted by Royal Bank of Canada from $187.00 to $200.00 in a research report released on Friday morning, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the medical equipment provider’s stock.

Several other analysts also recently issued reports on the company. Mizuho reiterated a buy rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. JPMorgan Chase & Co. increased their price target on ResMed from $160.00 to $195.00 and gave the company an overweight rating in a report on Tuesday, January 9th. KeyCorp lifted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an overweight rating in a research report on Friday. Needham & Company LLC raised their target price on shares of ResMed from $224.00 to $236.00 and gave the company a buy rating in a research note on Friday. Finally, UBS Group lifted their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a neutral rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, ResMed presently has an average rating of Moderate Buy and an average price target of $202.80.

ResMed Stock Up 18.9 %

RMD opened at $218.06 on Friday. The company has a market capitalization of $32.07 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.26 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. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The business has a 50-day moving average of $187.07 and a 200-day moving average of $171.97.

ResMed (NYSE:RMD) last released its quarterly earnings data 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. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.68 EPS. Equities research analysts forecast that ResMed will post 7.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a dividend yield of 0.88%. ResMed’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling

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

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MV Capital Management Inc. increased its holdings in shares of ResMed by 39.0% in the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in ResMed by 7.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after purchasing an additional 64 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of ResMed by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after purchasing an additional 66 shares during the last quarter. Great Lakes Advisors LLC grew its position in shares of ResMed by 2.6% during the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock worth $391,000 after buying an additional 68 shares during the period. Finally, Harfst & Associates Inc. raised its stake in shares of ResMed by 0.7% during the third quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock worth $1,626,000 after buying an additional 73 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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.