ResMed (NYSE:RMD) PT Raised to $224.00

ResMed (NYSE:RMD - Get Free Report) had its price target raised by Needham & Company LLC from $215.00 to $224.00 in a report issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the medical equipment provider's stock. Needham & Company LLC's price target would indicate a potential upside of 18.36% from the company's previous close.

A number of other brokerages have also weighed in on RMD. Oppenheimer boosted their price objective on ResMed from $185.00 to $205.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 30th. UBS Group boosted their price objective on ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, January 25th. KeyCorp assumed coverage on ResMed in a research report on Tuesday, February 6th. They set an "overweight" rating and a $227.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on ResMed from $160.00 to $195.00 and gave the stock an "overweight" rating in a report on Tuesday, January 9th. Finally, Mizuho reaffirmed a "buy" rating and set a $215.00 target price 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.com, ResMed currently has an average rating of "Moderate Buy" and a consensus price target of $199.20.

ResMed Stock Performance

NYSE:RMD traded down $8.77 during mid-day trading on Monday, hitting $189.26. 1,532,635 shares of the stock were exchanged, compared to its average volume of 995,136. The stock has a market capitalization of $27.84 billion, a price-to-earnings ratio of 31.28, a price-to-earnings-growth ratio of 2.45 and a beta of 0.67. The firm's 50-day simple moving average is $186.61 and its 200 day simple moving average is $166.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $243.52.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company's quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.66 EPS. As a group, equities analysts anticipate that ResMed will post 7.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares of the company's stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated 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 transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the transaction, the director now owns 157,404 shares of the company's stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 over the last 90 days. 1.21% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ResMed

Several institutional investors have recently made changes to their positions in RMD. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of ResMed during the third quarter valued at about $26,000. Compass Wealth Management LLC bought a new position in shares of ResMed during the fourth quarter valued at about $26,000. International Assets Investment Management LLC bought a new position in shares of ResMed during the third quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 128 shares during the last quarter. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

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.