ResMed (NYSE:RMD) PT Raised to $270.00

ResMed (NYSE:RMD) had its target price boosted by analysts at Bank of America from $240.00 to $270.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the medical equipment provider’s stock. Bank of America‘s price target indicates a potential upside of 12.97% from the company’s current price.

Several other equities analysts have also recently commented on RMD. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Robert W. Baird started coverage on ResMed in a report on Tuesday. They issued an “outperform” rating and a $280.00 price target for the company. KeyCorp raised their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $212.25.

ResMed Trading Down 1.5 %

Shares of RMD opened at $239.00 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed has a one year low of $132.24 and a one year high of $255.18. The stock has a 50-day moving average price of $230.00 and a 200 day moving average price of $210.84. The company has a market capitalization of $35.11 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.45 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. Sell-side analysts forecast that ResMed will post 8.92 EPS for the current fiscal year.

Insider Buying and Selling at ResMed

In related news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at $85,060,983.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the sale, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,931 shares of company stock worth $22,644,807. 1.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On ResMed

Hedge funds have recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new position in ResMed during the first quarter valued at about $35,000. OFI Invest Asset Management bought a new position in shares of ResMed during the 2nd quarter valued at about $32,000. Versant Capital Management Inc grew its stake in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed in the 2nd quarter worth approximately $37,000. Finally, Riverview Trust Co acquired a new stake in ResMed during the first quarter valued at approximately $42,000. 54.98% of the stock is currently 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.