ResMed (NYSE:RMD) Price Target Increased to $283.00 by Analysts at Robert W. Baird

ResMed (NYSE:RMD) had its price target boosted by Robert W. Baird from $280.00 to $283.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the medical equipment provider’s stock.

A number of other research firms also recently issued reports on RMD. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada boosted their price target on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a report on Tuesday, October 1st. KeyCorp increased their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.55.

ResMed Stock Up 7.1 %

RMD traded up $17.02 during midday trading on Friday, hitting $256.07. The company had a trading volume of 3,516,542 shares, compared to its average volume of 1,046,026. The stock’s 50 day moving average price is $240.22 and its 200 day moving average price is $217.35. ResMed has a 52 week low of $132.24 and a 52 week high of $260.49. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $37.58 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 1.94 and a beta of 0.69.

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

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. ResMed’s payout ratio is 30.59%.

Insider Buying and Selling

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of the stock in a transaction dated Tuesday, August 20th. The shares were 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 owns 10,512 shares in the company, valued at $2,428,272. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. Rider sold 882 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at approximately $2,428,272. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On ResMed

Large investors have recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of ResMed during the 4th quarter valued at about $7,535,000. Park Avenue Securities LLC boosted its stake in ResMed by 20.3% in the first quarter. Park Avenue Securities LLC now owns 2,266 shares of the medical equipment provider’s stock worth $449,000 after buying an additional 382 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in ResMed by 22.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider’s stock worth $1,011,000 after buying an additional 923 shares in the last quarter. Claro Advisors LLC bought a new position in ResMed during the first quarter valued at approximately $791,000. Finally, Congress Wealth Management LLC DE raised its stake in shares of ResMed by 11.7% during the first quarter. Congress Wealth Management LLC DE now owns 63,403 shares of the medical equipment provider’s stock worth $12,556,000 after acquiring an additional 6,626 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.