ResMed (NYSE:RMD) PT Raised to $283.00

ResMed (NYSE:RMD) had its price objective increased by Robert W. Baird from $280.00 to $283.00 in a report issued on Friday, Benzinga reports. The firm currently has an outperform rating on the medical equipment provider’s stock.

Other equities analysts have also issued reports about the stock. Baird R W raised shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Wolfe Research restated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada lifted their price objective on ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research note on Tuesday, October 1st. Finally, Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

ResMed Trading Up 7.1 %

NYSE:RMD opened at $256.07 on Friday. The company has a market capitalization of $37.62 billion, a P/E ratio of 39.33, a PEG ratio of 1.94 and a beta of 0.69. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed has a 12 month low of $132.24 and a 12 month high of $260.49. The firm has a fifty day simple moving average of $240.79 and a 200-day simple moving average of $218.16.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.83%. ResMed’s payout ratio is 32.57%.

Insider Buying and Selling at ResMed

In other news, General Counsel Michael J. Rider sold 882 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now directly owns 10,512 shares of the company’s stock, valued at $2,428,272. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the transaction, the chief financial officer now owns 89,056 shares of the company’s stock, valued at $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,874 shares of company stock valued at $28,151,142. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after acquiring an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock valued at $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Greenvale Capital LLP raised its stake in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in ResMed by 19.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock valued at $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. boosted its stake in ResMed by 3.0% during the 2nd quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after purchasing an additional 14,590 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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.