ResMed (NYSE:RMD) had its price target hoisted by investment analysts at BMO Capital Markets to $90.00 in a note issued to investors on Tuesday, January 23rd, The Fly reports. The firm currently has a “market perform” rating on the medical equipment provider’s stock. BMO Capital Markets’ price objective suggests a potential downside of 3.71% from the stock’s current price.
Several other research analysts have also recently weighed in on RMD. Needham & Company LLC raised ResMed from an “underperform” rating to a “hold” rating in a research report on Tuesday, January 23rd. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating and set a $99.00 price target on the stock in a research report on Friday, January 5th. Barclays upped their price target on ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, October 27th. Jefferies Group reaffirmed a “sell” rating and set a $56.00 price target on shares of ResMed in a research report on Thursday, October 12th. Finally, JPMorgan Chase & Co. upped their price target on ResMed from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. ResMed has a consensus rating of “Hold” and an average price target of $76.00.
ResMed (NYSE:RMD) traded up $1.95 during midday trading on Tuesday, hitting $93.47. The stock had a trading volume of 748,865 shares, compared to its average volume of 865,747. The company has a market capitalization of $13,080.00, a P/E ratio of 32.57 and a beta of 0.92. ResMed has a 52-week low of $67.04 and a 52-week high of $104.78.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.22. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The business had revenue of $601.27 million during the quarter, compared to the consensus estimate of $583.77 million. During the same quarter in the prior year, the company posted $0.73 earnings per share. ResMed’s revenue was up 13.4% compared to the same quarter last year. sell-side analysts expect that ResMed will post 3.34 earnings per share for the current fiscal year.
In related news, insider David Pendarvis sold 2,804 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $84.17, for a total transaction of $236,012.68. Following the completion of the sale, the insider now directly owns 97,257 shares in the company, valued at approximately $8,186,121.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Hollingshead sold 7,019 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $84.16, for a total value of $590,719.04. Following the sale, the insider now owns 66,409 shares of the company’s stock, valued at $5,588,981.44. The disclosure for this sale can be found here. Insiders sold a total of 49,802 shares of company stock worth $4,824,727 over the last 90 days. Corporate insiders own 1.77% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Calton & Associates Inc. purchased a new stake in ResMed during the 4th quarter valued at about $115,000. Cubist Systematic Strategies LLC purchased a new stake in ResMed during the 3rd quarter valued at about $113,000. YorkBridge Wealth Partners LLC boosted its holdings in ResMed by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 69 shares during the period. Toronto Dominion Bank boosted its holdings in ResMed by 12.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after acquiring an additional 197 shares during the period. Finally, Conning Inc. purchased a new stake in ResMed during the 4th quarter valued at about $203,000. Institutional investors own 61.47% of the company’s stock.
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ResMed Company Profile
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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