BMO Capital Markets Raises ResMed (RMD) Price Target to $90.00

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.

The Fly

Analyst Recommendations for ResMed (NYSE:RMD)

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