ResMed (NYSE:RMD) Given New $269.00 Price Target at KeyCorp

ResMed (NYSE:RMD) had its price target decreased by KeyCorp from $280.00 to $269.00 in a report released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the medical equipment provider’s stock.

Several other equities analysts have also commented on the company. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $250.08.

ResMed Stock Down 0.9 %

RMD opened at $211.04 on Monday. The company has a market cap of $30.99 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. ResMed has a 1 year low of $178.49 and a 1 year high of $263.05. The firm has a 50 day moving average price of $222.61 and a 200 day moving average price of $234.30.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts expect that ResMed will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Activity at ResMed

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 in the last 90 days. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of ResMed

Several large investors have recently added to or reduced their stakes in RMD. GAMMA Investing LLC increased its stake in ResMed by 23,982.6% during the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider’s stock valued at $164,207,000 after buying an additional 730,510 shares during the period. Invesco Ltd. increased its stake in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after acquiring an additional 566,046 shares during the period. Norges Bank bought a new stake in ResMed during the fourth quarter worth approximately $118,605,000. Captrust Financial Advisors boosted its stake in ResMed by 813.4% during the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock valued at $101,387,000 after purchasing an additional 394,803 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of ResMed by 133.6% during the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock valued at $142,944,000 after purchasing an additional 357,466 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.