ResMed Inc. (NYSE:RMD) had its target price boosted by stock analysts at BMO Capital Markets from $70.00 to $74.00 in a note issued to investors on Friday, October 27th. The firm currently has a “market perform” rating on the medical equipment provider’s stock. BMO Capital Markets’ price objective would suggest a potential downside of 11.90% from the stock’s current price.
RMD has been the topic of a number of other research reports. Zacks Investment Research cut ResMed from a “buy” rating to a “sell” rating in a research note on Tuesday, October 24th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a report on Friday, October 27th. Barclays PLC boosted their target price on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Credit Suisse Group AG lowered ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Finally, Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.57.
Shares of ResMed (RMD) traded up $0.94 during trading on Friday, hitting $84.00. The stock had a trading volume of 918,200 shares, compared to its average volume of 873,090. ResMed has a one year low of $57.45 and a one year high of $87.81. The company has a market cap of $11,786.54, a PE ratio of 28.94, a P/E/G ratio of 1.85 and a beta of 0.79. The company has a current ratio of 4.72, a quick ratio of 3.86 and a debt-to-equity ratio of 0.50.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The company had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. During the same quarter in the prior year, the business posted $0.62 EPS. The business’s revenue was up 12.5% compared to the same quarter last year. analysts forecast that ResMed will post 3 earnings per share for the current fiscal year.
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In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $84.50, for a total value of $105,625.00. Following the completion of the transaction, the chief financial officer now directly owns 71,772 shares in the company, valued at $6,064,734. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $76.74, for a total value of $1,534,800.00. Following the transaction, the director now owns 314,800 shares of the company’s stock, valued at $24,157,752. The disclosure for this sale can be found here. Insiders sold 201,234 shares of company stock valued at $16,339,637 over the last quarter. Corporate insiders own 1.77% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC raised its position in shares of ResMed by 4.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 69 shares during the last quarter. Creative Planning raised its position in shares of ResMed by 97.1% during the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after acquiring an additional 823 shares during the last quarter. Toronto Dominion Bank raised its position in shares of ResMed by 12.8% during the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after acquiring an additional 197 shares during the last quarter. Huntington National Bank bought a new position in shares of ResMed during the second quarter worth about $156,000. Finally, Nomura Holdings Inc. acquired a new stake in ResMed during the first quarter worth approximately $201,000. Institutional investors own 58.86% of the company’s stock.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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