ResMed (NYSE:RMD) Earns Overweight Rating from Analysts at KeyCorp

Stock analysts at KeyCorp assumed coverage on shares of ResMed (NYSE:RMDGet Free Report) in a report issued on Tuesday, Benzinga reports. The firm set an “overweight” rating and a $227.00 price target on the medical equipment provider’s stock. KeyCorp’s target price points to a potential upside of 19.40% from the company’s previous close.

Several other research analysts also recently weighed in on the stock. UBS Group upped their price target on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their price target on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Morgan Stanley upgraded shares of ResMed from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $180.00 to $169.00 in a research report on Friday, October 27th. Oppenheimer upped their price target on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Finally, Needham & Company LLC upped their price target on shares of ResMed from $180.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $196.30.

Read Our Latest Research Report on RMD

ResMed Trading Down 0.9 %

RMD stock opened at $190.11 on Tuesday. The company’s 50-day simple moving average is $172.98 and its 200-day simple moving average is $164.46. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed has a 52-week low of $132.24 and a 52-week high of $243.52. The firm has a market cap of $27.96 billion, a P/E ratio of 31.42, a PEG ratio of 2.40 and a beta of 0.69.

ResMed (NYSE:RMDGet Free Report) last posted its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $1.66 EPS. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities analysts forecast that ResMed will post 7.37 EPS for the current fiscal year.

Insider Transactions at ResMed

In other news, CFO Brett Sandercock sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $152.62, for a total transaction of $457,860.00. Following the completion of the sale, the chief financial officer now owns 92,962 shares in the company, valued at approximately $14,187,860.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael J. Farrell sold 5,678 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $152.04, for a total transaction of $863,283.12. Following the completion of the transaction, the chief executive officer now owns 440,986 shares of the company’s stock, valued at approximately $67,047,511.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $152.62, for a total transaction of $457,860.00. Following the transaction, the chief financial officer now directly owns 92,962 shares of the company’s stock, valued at approximately $14,187,860.44. The disclosure for this sale can be found here. Insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently made changes to their positions in RMD. Cambridge Investment Research Advisors Inc. boosted its position in shares of ResMed by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock worth $740,000 after purchasing an additional 414 shares during the period. Cibc World Market Inc. boosted its position in ResMed by 13.0% in the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock valued at $243,000 after buying an additional 115 shares during the period. Vontobel Holding Ltd. boosted its position in ResMed by 14.5% in the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock valued at $2,020,000 after buying an additional 1,025 shares during the period. Sei Investments Co. boosted its position in ResMed by 7.8% in the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock valued at $9,781,000 after buying an additional 2,955 shares during the period. Finally, Prudential PLC purchased a new position in ResMed in the 1st quarter valued at approximately $694,000. Hedge funds and other institutional investors own 63.79% of the company’s stock.

ResMed Company Profile

(Get Free Report)

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.

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Analyst Recommendations for ResMed (NYSE:RMD)

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