ResMed (NYSE:RMD) Given New $200.00 Price Target at Oppenheimer

ResMed (NYSE:RMD) had its target price cut by Oppenheimer from $205.00 to $200.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Other analysts also recently issued research reports about the company. Needham & Company LLC increased their target price on ResMed from $224.00 to $236.00 and gave the company a buy rating in a research note on Friday. UBS Group increased their price objective on ResMed from $175.00 to $180.00 and gave the company a neutral rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Royal Bank of Canada increased their target price on shares of ResMed from $187.00 to $200.00 and gave the company a sector perform rating in a research note on Friday. Finally, KeyCorp lifted their target price on ResMed from $227.00 to $238.00 and gave the stock an overweight rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $202.80.

ResMed Trading Down 0.5 %

NYSE:RMD opened at $217.05 on Friday. The company’s 50 day moving average is $187.80 and its 200-day moving average is $172.88. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed has a 12 month low of $132.24 and a 12 month high of $240.09. The firm has a market cap of $31.93 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.65 and a beta of 0.67.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm posted $1.68 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that ResMed will post 7.52 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is 29.49%.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction dated 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 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 can be accessed through the SEC website. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. AE Wealth Management LLC raised its stake in shares of ResMed by 35.9% in the third quarter. AE Wealth Management LLC now owns 6,573 shares of the medical equipment provider’s stock worth $972,000 after acquiring an additional 1,738 shares during the last quarter. Caprock Group LLC raised its position in ResMed by 7.6% in the 3rd quarter. Caprock Group LLC now owns 1,991 shares of the medical equipment provider’s stock worth $294,000 after purchasing an additional 141 shares during the last quarter. Czech National Bank lifted its holdings in ResMed by 47.7% during the 3rd quarter. Czech National Bank now owns 25,681 shares of the medical equipment provider’s stock worth $3,797,000 after buying an additional 8,288 shares in the last quarter. Handelsbanken Fonder AB boosted its position in ResMed by 1.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 57,373 shares of the medical equipment provider’s stock valued at $8,484,000 after buying an additional 644 shares during the last quarter. Finally, Simplicity Solutions LLC increased its stake in shares of ResMed by 41.6% in the 3rd quarter. Simplicity Solutions LLC now owns 2,928 shares of the medical equipment provider’s stock valued at $433,000 after buying an additional 860 shares during the period. 54.98% of the stock is owned by institutional investors.

ResMed Company Profile

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.