ResMed (NYSE:RMD) PT Raised to $266.00 at KeyCorp

ResMed (NYSE:RMD) had its price target raised by research analysts at KeyCorp from $251.00 to $266.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. KeyCorp’s target price would suggest a potential upside of 3.88% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Royal Bank of Canada upped their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.55.

ResMed Price Performance

NYSE:RMD opened at $256.07 on Friday. ResMed has a one year low of $132.24 and a one year high of $260.49. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a market cap of $37.58 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69. The firm’s fifty day moving average is $240.79 and its two-hundred day moving average is $217.83.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $1.64 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. Research analysts expect that ResMed will post 9.08 EPS for the current year.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,874 shares of company stock worth $28,151,142. Insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

Hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of ResMed in the 2nd quarter valued at approximately $32,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of ResMed in the 1st quarter valued at approximately $35,000. Versant Capital Management Inc boosted its position in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. purchased a new position in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. boosted its position in shares of ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the period. 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. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.