ResMed (NYSE:RMD) PT Lowered to $200.00

ResMed (NYSE:RMD) had its price target lowered by research analysts at Oppenheimer from $205.00 to $200.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s target price would indicate a potential downside of 8.28% from the stock’s current price.

Several other brokerages have also recently commented on RMD. KeyCorp boosted their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group lifted their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Needham & Company LLC lifted their price target on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a report on Friday. Finally, Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Four 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 a consensus rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Price Performance

Shares of ResMed stock opened at $218.06 on Friday. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $187.07 and a two-hundred day simple moving average of $172.12. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 EPS. Analysts forecast that ResMed will post 7.44 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction 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 sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock valued at $2,046,617 in the last ninety days. 1.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently modified their holdings of RMD. Handelsbanken Fonder AB lifted its position in shares of ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after acquiring an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after acquiring an additional 5,517 shares during the period. Vaughan David Investments LLC IL acquired a new position in shares of ResMed during the 4th quarter valued at $29,322,000. International Assets Investment Management LLC lifted its position in shares of ResMed by 11,960.3% during the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after acquiring an additional 22,007 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in shares of ResMed by 33.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 72,893 shares of the medical equipment provider’s stock valued at $12,539,000 after acquiring an additional 18,368 shares during the period. 54.98% of the stock is owned by institutional investors.

About ResMed

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.