ResMed (NYSE:RMD) Given New $238.00 Price Target at KeyCorp

ResMed (NYSE:RMD) had its price target lifted by KeyCorp from $227.00 to $238.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. 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. Mizuho reaffirmed a buy rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Oppenheimer upped their price objective on shares of ResMed from $185.00 to $205.00 and gave the stock an outperform rating in a research report on Tuesday, January 30th. Finally, 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. 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 an average rating of Moderate Buy and an average price target of $202.80.

ResMed Trading Up 18.9 %

Shares of ResMed stock opened at $218.06 on Friday. The firm has a 50-day moving average of $187.07 and a 200-day moving average of $172.32. The stock has a market cap of $32.07 billion, a PE ratio of 33.50, a PEG ratio of 2.68 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:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.92%. ResMed’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.68 earnings per share. As a group, sell-side analysts forecast that ResMed will post 7.52 EPS for the current year.

ResMed Dividend Announcement

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

Insider Activity

In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last quarter. 1.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RMD. AE Wealth Management LLC increased its position in ResMed by 35.9% during the 3rd quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock valued at $972,000 after purchasing an additional 1,738 shares during the period. Caprock Group LLC increased its position in 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 purchasing an additional 141 shares during the period. Czech National Bank increased 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 valued at $3,797,000 after purchasing an additional 8,288 shares during the period. Handelsbanken Fonder AB increased its position in ResMed by 1.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 57,373 shares of the medical equipment provider’s stock valued at $8,484,000 after purchasing an additional 644 shares during the period. Finally, Simplicity Solutions LLC increased its position in ResMed by 41.6% during the 3rd quarter. Simplicity Solutions LLC now owns 2,928 shares of the medical equipment provider’s stock valued at $433,000 after purchasing an additional 860 shares during the period. 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.