ResMed (NYSE:RMD) PT Raised to $232.00

ResMed (NYSE:RMD) had its price target lifted by Royal Bank of Canada from $224.00 to $232.00 in a report published on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the medical equipment provider’s stock.

A number of other analysts have also recently commented on the company. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $220.55.

ResMed Stock Performance

Shares of NYSE RMD traded up $17.02 during midday trading on Friday, reaching $256.07. 3,516,542 shares of the stock were exchanged, compared to its average volume of 1,046,026. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $240.22 and a two-hundred day simple moving average of $217.35. ResMed has a twelve month low of $132.24 and a twelve month high of $260.49. 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.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm posted $1.64 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that ResMed will post 9.08 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 30.59%.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 4,260 shares of the firm’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock worth $28,151,142 in the last quarter. Company insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. increased its position in shares of ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after acquiring an additional 47 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 52 shares during the period. QRG Capital Management Inc. boosted its position in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 56 shares during the period. Inspire Advisors LLC grew its stake in shares of ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 56 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its holdings in shares of ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after buying an additional 60 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.