ResMed (NYSE:RMD) Price Target Cut to $200.00

ResMed (NYSE:RMD) had its price objective dropped by research analysts at Oppenheimer from $205.00 to $200.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the medical equipment provider’s stock. Oppenheimer’s target price points to a potential downside of 8.28% from the company’s current price.

RMD has been the topic of several other research reports. KeyCorp boosted their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group boosted their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada boosted their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday. Needham & Company LLC boosted their price objective on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed Stock Performance

Shares of RMD opened at $218.06 on Friday. The company has a market capitalization of $32.07 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. ResMed has a one year low of $132.24 and a one year high of $243.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The company’s fifty day moving average price is $187.07 and its 200 day moving average price is $172.12.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.92%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts expect that ResMed will post 7.44 earnings per share for the current year.

Insider Buying and Selling at ResMed

In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares in the company, valued at $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the transaction, the director now directly owns 157,404 shares in the company, valued at $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares in the company, valued at $1,158,696. The disclosure for this sale can be found here. Insiders have sold a total of 11,216 shares of company stock worth $2,046,617 over the last ninety days. Corporate insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of large investors have recently modified their holdings of the stock. Pinnacle Associates Ltd. acquired a new position in shares of ResMed during the first quarter worth approximately $7,370,000. MBA Advisors LLC acquired a new position in shares of ResMed during the first quarter worth approximately $210,000. YHB Investment Advisors Inc. acquired a new position in shares of ResMed during the first quarter worth approximately $109,000. SlateStone Wealth LLC lifted its position in shares of ResMed by 13.5% during the first quarter. SlateStone Wealth LLC now owns 9,286 shares of the medical equipment provider’s stock worth $1,839,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of ResMed by 230.3% during the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock worth $755,112,000 after purchasing an additional 2,658,709 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.