ResMed (NYSE:RMD) Price Target Raised to $236.00 at Needham & Company LLC

ResMed (NYSE:RMD) had its price objective upped by Needham & Company LLC from $224.00 to $236.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the medical equipment provider’s stock.

RMD has been the subject of a number of other reports. UBS Group upped their price objective 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. Oppenheimer upped their price target on shares of ResMed from $185.00 to $205.00 and gave the company an outperform rating in a research report on Tuesday, January 30th. Mizuho reiterated a buy rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp assumed coverage on shares of ResMed in a research note on Tuesday, February 6th. They set an overweight rating and a $227.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price on ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Four equities research 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, ResMed currently has an average rating of Moderate Buy and a consensus price target of $202.80.

ResMed Price Performance

NYSE RMD opened at $217.05 on Friday. ResMed has a 1 year low of $132.24 and a 1 year high of $240.09. The business’s fifty day moving average is $187.80 and its two-hundred day moving average is $172.88. The stock has a market capitalization of $31.93 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.65 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

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

ResMed Dividend Announcement

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

Insider Transactions at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available at this link. In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 157,404 shares in the company, valued at $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 in the last three months. Insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Several institutional investors and hedge funds have recently made changes to their positions in RMD. MV Capital Management Inc. lifted its holdings in ResMed by 39.0% during the fourth quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of ResMed by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after purchasing an additional 64 shares during the period. Gulf International Bank UK Ltd lifted its holdings in shares of ResMed by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC grew its position in shares of ResMed by 2.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after purchasing an additional 68 shares during the period. Finally, Harfst & Associates Inc. grew its position in shares of ResMed by 0.7% in the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock valued at $1,626,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds 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. 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.