ResMed (NYSE:RMD) Price Target Raised to $238.00

ResMed (NYSE:RMD) had its target price raised by 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 points to a potential upside of 9.14% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Needham & Company LLC increased their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada raised 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, UBS Group raised 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. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Trading Up 18.9 %

NYSE:RMD opened at $218.06 on Friday. 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 1 year low of $132.24 and a 1 year high of $243.52. The company has a market cap of $32.07 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.68 and a beta of 0.67. The stock’s fifty day moving average price is $187.07 and its two-hundred day moving average price is $172.12.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $1.68 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that ResMed will post 7.52 EPS for the current year.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the firm’s 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 directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the firm’s 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 directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. Rider sold 200 shares of the firm’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is currently owned by insiders.

Institutional Trading of ResMed

Large investors have recently modified their holdings of the business. Handelsbanken Fonder AB grew its stake in shares of ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after purchasing an additional 12,899 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of ResMed by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after purchasing an additional 5,517 shares during the last quarter. Vaughan David Investments LLC IL bought a new stake in shares of ResMed in the fourth quarter worth about $29,322,000. International Assets Investment Management LLC grew its stake in shares of ResMed by 11,960.3% in the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after purchasing an additional 22,007 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in ResMed by 33.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 72,893 shares of the medical equipment provider’s stock valued at $12,539,000 after acquiring an additional 18,368 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

About ResMed

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.