ResMed (NYSE:RMD) Price Target Increased to $200.00 by Analysts at Royal Bank of Canada

ResMed (NYSE:RMD) had its price target raised by Royal Bank of Canada from $187.00 to $200.00 in a report issued on Friday, Benzinga reports. The firm currently has a sector perform rating on the medical equipment provider’s stock.

Other research analysts have also issued reports about the company. Oppenheimer boosted their price target 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 raised their price target on shares of ResMed from $175.00 to $180.00 and gave the company a neutral rating in a report on Thursday, January 25th. JPMorgan Chase & Co. increased their target price on shares of ResMed from $160.00 to $195.00 and gave the company an overweight rating in a research report on Tuesday, January 9th. KeyCorp lifted their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an overweight rating in a report on Friday. Finally, Needham & Company LLC lifted their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a buy rating in a research note on Friday. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $202.80.

ResMed Stock Performance

Shares of ResMed stock opened at $218.06 on Friday. ResMed has a 12 month low of $132.24 and a 12 month high of $243.52. The stock’s fifty day moving average price is $187.07 and its 200-day moving average price is $171.97. The firm has a market cap of $32.07 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.26 and a beta of 0.67. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27.

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

ResMed Dividend Announcement

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

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on 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 transaction, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock valued at $2,046,617 over the last ninety days. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently added to or reduced their stakes in the stock. AE Wealth Management LLC increased its position in shares of ResMed by 35.9% during the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock worth $972,000 after acquiring an additional 1,738 shares during the period. Caprock Group LLC lifted its holdings in shares of ResMed by 7.6% during the 3rd quarter. Caprock Group LLC now owns 1,991 shares of the medical equipment provider’s stock valued at $294,000 after acquiring an additional 141 shares in the last quarter. Czech National Bank boosted its position in ResMed by 47.7% during the 3rd quarter. Czech National Bank now owns 25,681 shares of the medical equipment provider’s stock worth $3,797,000 after purchasing an additional 8,288 shares during the period. Handelsbanken Fonder AB lifted its holdings in ResMed by 1.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,373 shares of the medical equipment provider’s stock worth $8,484,000 after buying an additional 644 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its position in ResMed by 41.6% in the 3rd quarter. Simplicity Solutions LLC now owns 2,928 shares of the medical equipment provider’s stock valued at $433,000 after buying an additional 860 shares during the last quarter. 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.