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

ResMed (NYSE:RMD) had its price objective lifted by stock analysts at Robert W. Baird from $280.00 to $283.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the medical equipment provider’s stock. Robert W. Baird’s price objective would indicate a potential upside of 18.39% from the stock’s current price.

Several other research analysts have also commented on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Royal Bank of Canada upped their price target on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 1st. KeyCorp increased their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $218.45.

ResMed Stock Performance

NYSE:RMD opened at $239.05 on Friday. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The firm’s 50 day moving average is $239.99 and its two-hundred day moving average is $217.20. The company has a market cap of $35.09 billion, a P/E ratio of 34.49, a P/E/G ratio of 1.94 and a beta of 0.69. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 earnings per share. Analysts expect that ResMed will post 9.08 EPS for the current year.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at approximately $5,502,777.28. 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. In other news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock valued at $28,151,142 in the last quarter. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of large investors have recently bought and sold shares of the business. UMB Bank n.a. raised its position in shares of ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 47 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in ResMed by 3.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 52 shares during the last quarter. QRG Capital Management Inc. increased its position in ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 56 shares during the period. Inspire Advisors LLC lifted its stake in ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 56 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in shares of ResMed by 1.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after acquiring an additional 60 shares during the period. Institutional investors 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. 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.