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

ResMed (NYSE:RMD) had its price objective decreased by equities researchers at Oppenheimer from $205.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s target price would indicate a potential downside of 7.91% from the stock’s previous close.

A number of other research firms also recently issued reports on RMD. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday. UBS Group upped their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Mizuho reaffirmed 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 target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, KeyCorp increased their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $202.80.

ResMed Price Performance

Shares of RMD stock traded up $33.75 during mid-day trading on Friday, hitting $217.17. The company had a trading volume of 2,970,459 shares, compared to its average volume of 1,038,592. ResMed has a 52-week low of $132.24 and a 52-week high of $243.52. The stock’s 50 day moving average price is $186.31 and its 200-day moving average price is $171.47. 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 market capitalization of $31.94 billion, a P/E ratio of 35.71, a P/E/G ratio of 2.25 and a beta of 0.67.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for 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%. ResMed’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Equities research analysts forecast that ResMed will post 7.47 earnings per share for the current year.

Insider Transactions at ResMed

In other news, General Counsel Michael J. Rider sold 200 shares of the company’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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the company’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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the 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 transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,216 shares of company stock worth $2,046,617. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its holdings in ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after acquiring an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of ResMed by 13.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after buying an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL bought a new stake in shares of ResMed in the 4th quarter valued at about $29,322,000. International Assets Investment Management LLC boosted its holdings in shares of ResMed by 11,960.3% in the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after buying an additional 22,007 shares in the last quarter. Finally, Synergy Asset Management LLC boosted its holdings in shares of ResMed by 29.2% in the 4th quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock valued at $11,935,000 after buying an additional 15,663 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.