ResMed (NYSE:RMD) Price Target Raised to $286.00

ResMed (NYSE:RMD) had its target price lifted by JPMorgan Chase & Co. from $270.00 to $286.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical equipment provider’s stock.

Other equities analysts have also recently issued research reports about the company. KeyCorp lifted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada lifted their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Finally, Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Price Performance

Shares of RMD opened at $236.66 on Friday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed has a 1 year low of $170.56 and a 1 year high of $263.05. The stock has a market cap of $34.74 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70. The stock’s 50-day moving average price is $240.17 and its two-hundred day moving average price is $236.41.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. On average, equities analysts predict that ResMed will post 9.35 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s payout ratio is 28.08%.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,030 shares of company stock worth $2,702,687. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its holdings in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC purchased a new stake in ResMed during the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton purchased a new stake in ResMed during the 4th quarter valued at about $54,000. Capital Performance Advisors LLP purchased a new stake in ResMed during the 3rd quarter valued at about $60,000. Finally, Quarry LP raised its position in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 242 shares during the last quarter. 54.98% of the stock is currently 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. 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.