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

ResMed (NYSE:RMD) had its target price upped by stock analysts at Royal Bank of Canada from $187.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the medical equipment provider’s stock. Royal Bank of Canada’s target price indicates a potential downside of 6.50% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. KeyCorp upped their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target 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. Needham & Company LLC boosted their price objective on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday. UBS Group boosted their price objective on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, Oppenheimer boosted their price objective on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $203.30.

ResMed Price Performance

Shares of NYSE:RMD traded up $30.48 on Friday, hitting $213.90. The stock had a trading volume of 2,425,149 shares, compared to its average volume of 1,031,358. ResMed has a twelve month low of $132.24 and a twelve month high of $243.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The firm’s 50 day moving average price is $186.31 and its 200-day moving average price is $171.47. The company has a market capitalization of $31.46 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 2.25 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, beating the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the company earned $1.68 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that ResMed will post 7.47 earnings per share for the current year.

Insider Activity

In other news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was 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 directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was 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 directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 in the last ninety days. 1.21% of the stock is owned by insiders.

Institutional Investors Weigh In On ResMed

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in ResMed by 230.3% during the 1st quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after buying an additional 2,658,709 shares during the period. Telos Capital Management Inc. raised its stake in ResMed by 5.0% in the first quarter. Telos Capital Management Inc. now owns 28,882 shares of the medical equipment provider’s stock valued at $5,719,000 after purchasing an additional 1,366 shares in the last quarter. V Square Quantitative Management LLC raised its stake in ResMed by 44.0% in the first quarter. V Square Quantitative Management LLC now owns 1,883 shares of the medical equipment provider’s stock valued at $373,000 after purchasing an additional 575 shares in the last quarter. Simplicity Wealth LLC acquired a new position in ResMed in the first quarter valued at about $691,000. Finally, Bfsg LLC acquired a new position in ResMed in the first quarter valued at about $3,357,000. Institutional investors and hedge funds 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.