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

ResMed (NYSE:RMD) had its price target boosted by equities researchers at Needham & Company LLC from $224.00 to $236.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the medical equipment provider’s stock. Needham & Company LLC’s target price suggests a potential upside of 28.66% from the company’s previous close.

A number of other equities analysts have also issued reports on RMD. Oppenheimer raised their price target on shares of ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Royal Bank of Canada raised their price target on shares of ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. UBS Group lifted their target price on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. Finally, KeyCorp initiated coverage on shares of ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $200.40.

ResMed Stock Down 0.2 %

RMD stock opened at $183.43 on Friday. The firm has a 50 day moving average of $186.31 and a 200 day moving average of $171.47. The stock has a market capitalization of $26.98 billion, a PE ratio of 30.32, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. ResMed has a 52 week low of $132.24 and a 52 week high of $243.52.

ResMed (NYSE:RMD) last released 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 company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. ResMed had a net margin of 19.77% and a return on equity of 23.86%. ResMed’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the business earned $1.68 EPS. Sell-side analysts forecast that ResMed will post 7.47 earnings per share for the current year.

Insider Activity

In other news, Director Peter C. Farrell sold 10,935 shares of the 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 in the company, valued at $28,751,414.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were 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 owns 6,688 shares of the company’s stock, valued at $1,158,696. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction 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 approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock worth $2,046,617 over the last three months. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB boosted its stake in ResMed by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after buying an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of ResMed by 13.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after purchasing an additional 5,517 shares in the last quarter. Vaughan David Investments LLC IL acquired a new stake in shares of ResMed during the fourth quarter worth about $29,322,000. International Assets Investment Management LLC lifted its position in shares of ResMed by 11,960.3% during the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after purchasing an additional 22,007 shares in the last quarter. Finally, Synergy Asset Management LLC lifted its position in shares of ResMed by 29.2% during the fourth quarter. Synergy Asset Management LLC now owns 69,383 shares of the medical equipment provider’s stock worth $11,935,000 after purchasing an additional 15,663 shares in the last quarter. Hedge funds and other institutional investors 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.