ResMed (NYSE:RMD) Price Target Lowered to $200.00 at Oppenheimer

ResMed (NYSE:RMD - Free Report) had its price target reduced by Oppenheimer from $205.00 to $200.00 in a research note published on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the medical equipment provider's stock.

Other equities research analysts also recently issued reports about the stock. Mizuho restated a buy rating and issued a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $160.00 to $195.00 and gave the company an overweight rating in a research note on Tuesday, January 9th. UBS Group raised their target price on shares of ResMed from $175.00 to $180.00 and gave the company a neutral rating in a research note on Thursday, January 25th. KeyCorp raised their target price on shares of ResMed from $227.00 to $238.00 and gave the company an overweight rating in a research note on Friday. Finally, Needham & Company LLC lifted their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a buy rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $202.80.

ResMed Stock Up 18.9 %

RMD stock traded up $34.64 during trading on Friday, hitting $218.06. 4,330,318 shares of the company's stock traded hands, compared to its average volume of 1,056,215. The firm has a market capitalization of $32.07 billion, a P/E ratio of 36.04, a PEG ratio of 2.25 and a beta of 0.67. The business has a fifty day simple moving average of $187.07 and a two-hundred day simple moving average of $171.97. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed has a 1 year low of $132.24 and a 1 year high of $243.52.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share 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 the consensus estimate of $1.17 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. ResMed's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.68 earnings per share. Sell-side analysts anticipate that ResMed will post 7.47 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Michael J. Rider sold 200 shares of the firm'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 transaction, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the firm'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 transaction, the general counsel now owns 6,688 shares of the company's stock, valued at $1,158,696. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was 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 approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 over the last 90 days. Insiders own 1.21% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed in the fourth quarter valued at $27,000. Hall Laurie J Trustee purchased a new position in ResMed in the first quarter valued at $32,000. EverSource Wealth Advisors LLC increased 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 worth $27,000 after purchasing an additional 128 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of ResMed during the fourth quarter worth about $34,000. Finally, Riverview Trust Co purchased a new stake in shares of ResMed during the first quarter worth about $42,000. 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.