Royal Bank of Canada Increases ResMed (NYSE:RMD) Price Target to $200.00

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.

A number of other research analysts have also recently commented on the stock. Oppenheimer upped their price target on shares of ResMed from $185.00 to $205.00 and gave the stock an outperform rating in a report on Tuesday, January 30th. Mizuho restated a buy rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp lifted their price target on shares of ResMed from $227.00 to $238.00 and gave the company an overweight rating in a research note on Friday. Needham & Company LLC boosted their price target on ResMed from $224.00 to $236.00 and gave the company a buy rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $202.80.

ResMed Stock Down 0.5 %

Shares of NYSE RMD opened at $217.05 on Friday. ResMed has a 1 year low of $132.24 and a 1 year high of $240.09. The firm has a 50-day simple moving average of $187.80 and a two-hundred day simple moving average of $172.88. The company has a market cap of $31.93 billion, a P/E ratio of 33.34, a PEG ratio of 2.65 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed (NYSE:RMD) last issued its quarterly earnings results 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 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $1.68 EPS. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts anticipate that ResMed will post 7.52 earnings per share for the current year.

ResMed Dividend Announcement

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

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on 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 SEC, which is accessible through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the 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 sale, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 over the last quarter. Insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of large investors have recently modified their holdings of the business. MV Capital Management Inc. boosted its stake in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of ResMed by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after buying an additional 64 shares during the period. Gulf International Bank UK Ltd grew its holdings in shares of ResMed by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after buying an additional 66 shares during the last quarter. Great Lakes Advisors LLC grew its holdings in shares of ResMed by 2.6% during the third quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after buying an additional 68 shares during the last quarter. Finally, Harfst & Associates Inc. increased its position in shares of ResMed by 0.7% in the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock valued at $1,626,000 after acquiring an additional 73 shares during the period. Hedge funds and other institutional investors 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.