ResMed (NYSE:RMD) PT Raised to $200.00 at Royal Bank of Canada

ResMed (NYSE:RMD) had its target price raised by Royal Bank of Canada from $187.00 to $200.00 in a research report report published on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the medical equipment provider’s stock.

RMD has been the topic of a number of other research reports. JPMorgan Chase & Co. increased their price objective on ResMed from $160.00 to $195.00 and gave the company an overweight rating in a report on Tuesday, January 9th. Mizuho reiterated a buy rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Needham & Company LLC raised their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a buy rating in a report on Friday. KeyCorp upped their target price on shares of ResMed from $227.00 to $238.00 and gave the company an overweight rating in a report on Friday. Finally, Oppenheimer increased their target price 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. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $202.80.

ResMed Trading Down 0.5 %

NYSE RMD opened at $217.05 on Friday. ResMed has a 52 week low of $132.24 and a 52 week high of $240.09. The firm has a 50 day moving average of $187.80 and a two-hundred day moving average of $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. The stock has a market capitalization of $31.93 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 2.65 and a beta of 0.67.

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

ResMed Dividend Announcement

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

Insiders Place Their Bets

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 completion of the sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,216 shares of company stock valued at $2,046,617. Insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Hedge funds and other institutional investors have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed in the 4th quarter worth $27,000. Hall Laurie J Trustee purchased a new position in ResMed during the first quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its position in ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 128 shares during the period. Planned Solutions Inc. purchased a new stake in ResMed in the 4th quarter valued at approximately $34,000. Finally, Riverview Trust Co acquired a new position in ResMed during the 1st quarter worth approximately $42,000. 54.98% of the stock is currently owned by hedge funds and other 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.