ResMed (NYSE:RMD) Given New $270.00 Price Target at Wells Fargo & Company

ResMed (NYSE:RMD) had its price objective upped by Wells Fargo & Company from $265.00 to $270.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the medical equipment provider’s stock.

RMD has been the topic of several other research reports. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday. KeyCorp reissued an “overweight” rating and issued a $302.00 price target on shares of ResMed in a report on Friday. Royal Bank Of Canada boosted their price objective on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research report on Friday. Piper Sandler increased their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Mizuho cut their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $297.91.

ResMed Stock Up 0.1%

RMD opened at $257.76 on Friday. The company has a market cap of $37.62 billion, a P/E ratio of 25.50, a P/E/G ratio of 1.73 and a beta of 0.88. The business’s 50-day moving average price is $251.04 and its 200-day moving average price is $263.22. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. ResMed has a 12 month low of $199.92 and a 12 month high of $293.81.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.68% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ResMed’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.43 EPS. On average, equities analysts expect that ResMed will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is presently 24.56%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.83, for a total value of $497,660.00. Following the completion of the transaction, the director directly owned 66,773 shares of the company’s stock, valued at $16,615,125.59. This represents a 2.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,594 shares of company stock worth $5,403,495 over the last three months. Company insiders own 0.65% of the company’s stock.

Institutional Trading of ResMed

Hedge funds have recently modified their holdings of the business. Johnson Investment Counsel Inc. boosted its stake in ResMed by 2.8% during the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 45 shares in the last quarter. Quadcap Wealth Management LLC lifted its holdings in shares of ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after purchasing an additional 45 shares during the last quarter. Terra Nova Asset Management LLC boosted its position in shares of ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after purchasing an additional 46 shares in the last quarter. NBT Bank N A NY boosted its position in shares of ResMed by 22.9% in the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after purchasing an additional 47 shares in the last quarter. Finally, OFI Invest Asset Management grew its stake in shares of ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after buying an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Trending Headlines about ResMed

Here are the key news stories impacting ResMed this week:

• Positive Sentiment: Q2 results beat consensus — GAAP diluted EPS of $2.68 (non?GAAP $2.81) vs. Street estimates ~ $2.68, revenue $1.423B (+11% YoY), 320 bps gross?margin improvement and $340M operating cash flow. These metrics support near?term earnings credibility and cash generation. Read More.
• Positive Sentiment: Board declared a quarterly cash dividend of $0.60 per share (record Feb 12; payable Mar 19), signaling capital return commitment and supporting income investors. Read More.
• Positive Sentiment: Product/innovation catalysts: FDA cleared an AI?enabled device (“Smart Comfort”) to personalize CPAP settings — strengthens digital/AI positioning and could boost adherence and recurring device/accessory demand. Read More.
• Positive Sentiment: Wells Fargo nudged its price target to $270 (from $265) with an “equal weight” rating — a modest analyst lift that implies limited near?term upside from that shop. Read More.
• Neutral Sentiment: Analyst landscape remains mixed but generally favorable — several firms maintain outperform/buy views and available median targets sit materially above current price, leaving room for differing investor expectations. Read More.
• Neutral Sentiment: Company hosted the Q2 webcast and transcripts are posted — useful for hearing management’s guide/comments on demand, supply and margin outlook. Read More.
• Negative Sentiment: Expenses rose: SG&A and R&D both increased (~12% YoY) and the company recorded $6M in restructuring charges; higher operating costs could pressure margins if growth slows. Read More.
• Negative Sentiment: Notable insider selling activity was reported in recent months (multiple sales by senior executives), which some investors view as a modest governance/conviction caution. Read More.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.