ResMed (NYSE:RMD) Price Target Increased to $238.00 by Analysts at KeyCorp

ResMed (NYSE:RMD) had its price target lifted by KeyCorp from $227.00 to $238.00 in a research note released on Friday, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued reports about the company. Oppenheimer upped their price objective on ResMed from $185.00 to $205.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. UBS Group upped 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 reaffirmed a buy rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Needham & Company LLC upped their target price on ResMed from $224.00 to $236.00 and gave the stock a buy rating in a report on Friday. Finally, Royal Bank of Canada increased their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a sector perform rating in a research note on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $202.80.

ResMed Stock Performance

NYSE:RMD opened at $218.06 on Friday. The stock has a market cap of $32.07 billion, a P/E ratio of 33.50, a PEG ratio of 2.26 and a beta of 0.67. 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 business’s 50-day moving average price is $187.07 and its two-hundred day moving average price is $171.97. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. ResMed’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 earnings per share. As a group, equities analysts predict that ResMed will post 7.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s dividend payout ratio is presently 29.49%.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction 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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the firm’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 $28,751,414.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction 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 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. Insiders sold a total of 11,216 shares of company stock worth $2,046,617 over the last 90 days. Company insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its stake in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 128 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of ResMed in the 4th quarter valued at approximately $27,000. Operose Advisors LLC acquired a new stake in ResMed in the 3rd quarter worth approximately $32,000. Hall Laurie J Trustee purchased a new stake in ResMed during the 1st quarter worth approximately $32,000. Finally, Planned Solutions Inc. acquired a new position in ResMed during the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds 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.