BMO Capital Markets Raises ResMed (RMD) Price Target to $82.00
ResMed (NYSE:RMD) had its price objective hoisted by equities researchers at BMO Capital Markets to $82.00 in a research report issued on Tuesday, The Fly reports. The firm currently has a “market perform” rating on the medical equipment provider’s stock. BMO Capital Markets’ price objective indicates a potential downside of 5.14% from the stock’s current price.
Several other equities analysts have also recently commented on the stock. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Thursday, October 12th. Northland Securities reissued a “sell” rating and set a $55.00 target price on shares of ResMed in a research note on Friday, October 27th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research note on Friday, September 8th. J P Morgan Chase & Co raised their target price on shares of ResMed from $72.00 to $73.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Finally, Barclays raised their target price on shares of ResMed from $65.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, September 25th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $68.71.
ResMed (NYSE RMD) traded up $0.07 during trading on Tuesday, reaching $86.44. 426,900 shares of the company’s stock traded hands, compared to its average volume of 848,471. The firm has a market cap of $12,256.24, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.92 and a beta of 0.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. ResMed has a 52-week low of $60.13 and a 52-week high of $87.81.
In other news, insider David Pendarvis sold 6,364 shares of ResMed stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $76.94, for a total value of $489,646.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 1,250 shares of ResMed stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $77.05, for a total transaction of $96,312.50. Following the completion of the transaction, the chief financial officer now directly owns 64,691 shares in the company, valued at approximately $4,984,441.55. The disclosure for this sale can be found here. Insiders sold a total of 184,693 shares of company stock worth $15,149,955 in the last ninety days. Corporate insiders own 1.77% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in RMD. Visionary Asset Management Inc. acquired a new position in shares of ResMed in the third quarter worth about $214,000. Crestwood Advisors Group LLC boosted its holdings in shares of ResMed by 1.1% in the third quarter. Crestwood Advisors Group LLC now owns 212,264 shares of the medical equipment provider’s stock worth $16,336,000 after buying an additional 2,375 shares during the period. Wealthsource Partners LLC boosted its holdings in shares of ResMed by 17.8% in the third quarter. Wealthsource Partners LLC now owns 7,150 shares of the medical equipment provider’s stock worth $550,000 after buying an additional 1,080 shares during the period. Coastline Trust Co boosted its holdings in shares of ResMed by 39.4% in the third quarter. Coastline Trust Co now owns 14,615 shares of the medical equipment provider’s stock worth $1,125,000 after buying an additional 4,130 shares during the period. Finally, IFM Investors Pty Ltd acquired a new position in shares of ResMed in the third quarter worth about $341,000. 62.02% of the stock is currently owned by institutional investors.
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ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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