ResMed Price Target Increased to $59.00 by Analysts at Piper Jaffray Cos. (RMD)
Analysts at Piper Jaffray Cos. boosted their price objective on shares of ResMed (NYSE:RMD) from $54.00 to $59.00 in a research report issued to clients and investors on Wednesday, AnalystRatings.NET reports. Piper Jaffray Cos.’s price objective indicates a potential upside of 8.66% from the stock’s previous close.
ResMed (NYSE:RMD) traded up 2.65% on Wednesday, hitting $54.30. The stock had a trading volume of 1,486,720 shares. ResMed has a one year low of $38.08 and a one year high of $54.45. The stock’s 50-day moving average is $51.34 and its 200-day moving average is $48.13. The company has a market cap of $7.714 billion and a P/E ratio of 25.19.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.62 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.62. The company had revenue of $414.60 million for the quarter, compared to the consensus estimate of $410.89 million. During the same quarter last year, the company posted $0.53 earnings per share. ResMed’s revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that ResMed will post $2.56 earnings per share for the current fiscal year.
In other ResMed news, COO Robert Andrew Douglas unloaded 8,000 shares of ResMed stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $53.20, for a total transaction of $425,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
RMD has been the subject of a number of other recent research reports. Analysts at Northland Capital Partners initiated coverage on shares of ResMed in a research note to investors on Tuesday. They set a “market perform” rating and a $44.00 price target on the stock. Separately, analysts at Northland Securities initiated coverage on shares of ResMed in a research note to investors on Monday. They set a “market perform” rating on the stock. Finally, analysts at Zacks upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, October 4th. They now have a $55.40 price target on the stock. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.10.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.