ResMed (NYSE:RMD) Price Target Lowered to $200.00 at Oppenheimer

ResMed (NYSE:RMD) had its target price reduced by Oppenheimer from $205.00 to $200.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

Several other brokerages have also commented on RMD. Needham & Company LLC increased their price objective on shares of ResMed from $224.00 to $236.00 and gave the company a buy rating in a research report on Friday. UBS Group boosted their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a neutral rating in a report on Thursday, January 25th. Royal Bank of Canada upped their target price on ResMed from $187.00 to $200.00 and gave the company a sector perform rating in a research report on Friday. Mizuho reaffirmed a buy rating and set a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Finally, KeyCorp increased their price objective on ResMed from $227.00 to $238.00 and gave the company an overweight rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, ResMed currently has an average rating of Moderate Buy and an average price target of $202.80.

ResMed Trading Down 0.5 %

NYSE:RMD opened at $217.05 on Friday. The stock has a market capitalization of $31.93 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.65 and a beta of 0.67. ResMed has a 52 week low of $132.24 and a 52 week high of $240.09. 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 firm has a 50 day moving average of $187.80 and a 200 day moving average of $172.88.

ResMed (NYSE:RMD) last issued its quarterly earnings data 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 return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed will post 7.52 earnings per share for the current fiscal year.

ResMed Announces Dividend

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

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the firm’s stock in a transaction 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 sale, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed 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 transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Peter C. Farrell sold 10,935 shares of the company’s stock in a transaction on 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 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 worth $2,046,617 in the last three months. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently bought and sold shares of RMD. Handelsbanken Fonder AB increased its holdings in shares of ResMed by 22.5% during the 4th 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 last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 acquiring an additional 5,517 shares during the last quarter. Vaughan David Investments LLC IL purchased a new stake in ResMed in the fourth quarter valued at $29,322,000. International Assets Investment Management LLC raised its position in ResMed by 11,960.3% in the fourth quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock valued at $3,817,000 after purchasing an additional 22,007 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of ResMed by 33.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 72,893 shares of the medical equipment provider’s stock valued at $12,539,000 after purchasing an additional 18,368 shares during the last quarter. 54.98% of the stock is 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.