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.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. ResMed had a net margin of 16.58% and a return on equity of 21.53%. ResMed’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. equities research analysts anticipate that ResMed will post 3 earnings per share for the current year.

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.

COPYRIGHT VIOLATION NOTICE: This report was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was illegally stolen and republished in violation of international copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/12/12/bmo-capital-markets-raises-resmed-rmd-price-target-to-82-00.html.

About ResMed

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.

The Fly

Analyst Recommendations for ResMed (NYSE:RMD)

Receive News & Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.