ResMed (NYSE:RMD) PT Raised to $238.00

ResMed (NYSE:RMD) had its price target lifted by equities researchers at KeyCorp from $227.00 to $238.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price target would indicate a potential upside of 29.75% from the stock’s previous close.

A number of other analysts also recently issued reports on RMD. Needham & Company LLC lifted their price target on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday. UBS Group boosted their price target on ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Mizuho restated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada boosted their price target on ResMed from $181.00 to $182.00 and gave the company a “sector perform” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.50.

ResMed Price Performance

RMD stock opened at $183.43 on Friday. The business has a fifty day moving average of $186.31 and a two-hundred day moving average of $171.47. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The stock has a market cap of $26.98 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67. ResMed has a 52-week low of $132.24 and a 52-week high of $243.52.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. As a group, research analysts anticipate 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 company’s stock in a transaction that occurred 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 sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company’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 value of $1,997,387.10. Following the completion of the sale, 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 have sold a total of 11,216 shares of company stock worth $2,046,617 in the last quarter. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of institutional investors and hedge funds have recently bought and sold shares of RMD. MV Capital Management Inc. lifted its stake in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 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 buying an additional 64 shares during the last quarter. Gulf International Bank UK Ltd increased its holdings in shares of ResMed by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after buying an additional 66 shares during the last quarter. Great Lakes Advisors LLC increased its holdings 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 last quarter. Finally, Harfst & Associates Inc. increased its holdings in shares of ResMed by 0.7% during the 3rd 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. Hedge funds and other 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.