ResMed (NYSE:RMD) Price Target Cut to $269.00 by Analysts at KeyCorp

ResMed (NYSE:RMD - Get Free Report) had its price objective decreased by equities research analysts at KeyCorp from $280.00 to $269.00 in a research note issued to investors on Monday, MarketBeat.com reports. The firm presently has an "overweight" rating on the medical equipment provider's stock. KeyCorp's target price would indicate a potential upside of 14.08% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Mizuho set a $265.00 price target on ResMed in a report on Wednesday, April 16th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Stifel Nicolaus cut their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. Finally, Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $254.31.

ResMed Stock Performance

Shares of ResMed stock traded down $0.31 during trading on Monday, hitting $235.79. 1,193,608 shares of the stock were exchanged, compared to its average volume of 1,017,319. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average price of $221.92 and a 200-day moving average price of $234.05. The stock has a market capitalization of $34.63 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed has a 1-year low of $179.42 and a 1-year high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, hitting analysts' consensus estimates of $2.37. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. As a group, equities analysts predict that ResMed will post 9.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were 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 owns 455,472 shares in the company, valued at approximately $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock worth $11,298,816 over the last three months. Insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On ResMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. lifted its stake in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Colonial Trust Co SC increased its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new position in ResMed in the 4th quarter worth about $33,000. Golden State Wealth Management LLC raised its position in ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 54.98% of the company's stock.

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.