ResMed (NYSE:RMD) Price Target Raised to $224.00 at Needham & Company LLC

ResMed (NYSE:RMDFree Report) had its price target lifted by Needham & Company LLC from $215.00 to $224.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the medical equipment provider’s stock.

Several other research firms have also recently weighed in on RMD. UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a neutral rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their price objective on shares of ResMed from $181.00 to $182.00 and gave the stock a sector perform rating in a research report on Thursday, January 25th. KeyCorp assumed coverage on ResMed in a research note on Tuesday, February 6th. They set an overweight rating and a $227.00 target price for the company. Oppenheimer boosted their target price on ResMed from $185.00 to $205.00 and gave the stock an outperform rating in a research note on Tuesday, January 30th. Finally, JPMorgan Chase & Co. boosted their target price on ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a research note on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $199.20.

Read Our Latest Report on ResMed

ResMed Trading Down 4.4 %

Shares of ResMed stock opened at $189.26 on Monday. The firm has a 50-day moving average of $186.61 and a 200-day moving average of $166.71. The stock has a market cap of $27.84 billion, a PE ratio of 31.28, a PEG ratio of 2.45 and a beta of 0.67. ResMed has a 52-week low of $132.24 and a 52-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:RMDGet Free Report) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business posted $1.66 earnings per share. ResMed’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that ResMed will post 7.45 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio is presently 31.74%.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the 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 SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction 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 of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,216 shares of company stock worth $2,046,617. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC bought a new stake in ResMed in the third quarter valued at approximately $26,000. Compass Wealth Management LLC bought a new stake in ResMed in the fourth quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC bought a new stake in ResMed in the fourth quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in ResMed in the third quarter valued at approximately $27,000. Finally, EverSource Wealth Advisors LLC lifted its position 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 purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

About ResMed

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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.

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