ResMed (NYSE:RMD) Price Target Lowered to $285.00 at UBS Group

ResMed (NYSE:RMD) had its price target decreased by UBS Group from $290.00 to $285.00 in a report published on Thursday morning,Benzinga reports. UBS Group currently has a buy rating on the medical equipment provider’s stock.

A number of other research analysts also recently weighed in on RMD. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a report on Thursday. Stifel Nicolaus cut their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $254.31.

ResMed Stock Performance

Shares of RMD opened at $236.11 on Thursday. The stock has a market capitalization of $34.68 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 1.53 and a beta of 0.75. ResMed has a 12 month low of $179.00 and a 12 month high of $263.05. The firm has a fifty day simple moving average of $221.81 and a 200 day simple moving average of $234.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting analysts’ consensus estimates of $2.37. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Research analysts forecast that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s payout ratio is currently 25.03%.

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock valued at $11,298,816 in the last ninety days. 0.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock worth $4,156,089,000 after acquiring an additional 160,590 shares during the period. Geode Capital Management LLC increased its position in shares of ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock worth $899,860,000 after purchasing an additional 85,270 shares during the period. Invesco Ltd. increased its position in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after purchasing an additional 566,046 shares during the period. Northern Trust Corp raised its stake in ResMed by 20.6% in the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in ResMed by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after purchasing an additional 32,973 shares during the period. 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. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.