ResMed (NYSE:RMD) Given New $200.00 Price Target at Oppenheimer

ResMed (NYSE:RMD) had its target price trimmed by Oppenheimer from $205.00 to $200.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Other analysts have also issued reports about the stock. KeyCorp increased their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an overweight rating in a research report on Friday. Mizuho reissued a buy rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada increased their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a sector perform rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a research report on Tuesday, January 9th. Finally, Needham & Company LLC increased their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a buy rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $202.80.

ResMed Stock Up 18.9 %

Shares of NYSE RMD opened at $218.06 on Friday. The firm’s 50-day moving average price is $187.07 and its 200-day moving average price is $171.97. The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 33.50, a P/E/G ratio of 2.26 and a beta of 0.67. ResMed has a 12-month low of $132.24 and a 12-month high of $243.52.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.92%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the prior year, the company earned $1.68 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed will post 7.44 EPS for the current fiscal year.

ResMed Announces Dividend

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

Insider Activity at ResMed

In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold 11,216 shares of company stock valued at $2,046,617 over the last 90 days. Insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in shares of ResMed by 224.6% in the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 128 shares during the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of ResMed in the fourth quarter worth $27,000. Operose Advisors LLC purchased a new position in shares of ResMed in the third quarter worth $32,000. Hall Laurie J Trustee purchased a new position in shares of ResMed in the first quarter worth $32,000. Finally, Planned Solutions Inc. purchased a new position in shares of ResMed in the fourth quarter worth $34,000. 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. 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.