ResMed (NYSE:RMD) PT Raised to $238.00 at KeyCorp

ResMed (NYSE:RMD) had its price target raised by KeyCorp from $227.00 to $238.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s price objective suggests a potential upside of 9.14% from the company’s current price.

A number of other brokerages have also weighed in on RMD. JPMorgan Chase & Co. boosted 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 boosted their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer boosted their price objective on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. UBS Group boosted their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, Royal Bank of Canada boosted their price objective on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.80.

ResMed Trading Up 18.9 %

Shares of RMD stock opened at $218.06 on Friday. The stock’s fifty day moving average price is $187.07 and its two-hundred day moving average price is $172.12. The company has a market cap of $32.07 billion, a PE ratio of 33.50, a P/E/G ratio of 2.68 and a beta of 0.67. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $243.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11.

ResMed (NYSE:RMD) last issued its earnings results 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.92% and a net margin of 20.91%. The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.68 EPS. Equities analysts predict that ResMed will post 7.52 EPS for the current fiscal year.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. In the last quarter, 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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of ResMed by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock valued at $3,052,229,000 after purchasing an additional 173,635 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of ResMed by 230.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after purchasing an additional 2,658,709 shares during the period. Morgan Stanley lifted its stake in shares of ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after purchasing an additional 1,178,547 shares during the period. Norges Bank acquired a new position in shares of ResMed in the 4th quarter valued at about $233,966,000. Finally, abrdn plc lifted its stake in shares of ResMed by 79.2% in the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock valued at $133,303,000 after purchasing an additional 398,302 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

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.