ResMed (NYSE:RMD) Price Target Lowered to $269.00 at KeyCorp

ResMed (NYSE:RMD) had its price target decreased by KeyCorp from $280.00 to $269.00 in a research report released on Monday morning,Benzinga reports. KeyCorp currently has an overweight rating on the medical equipment provider’s stock.

RMD has been the topic of a number of other research reports. Piper Sandler lifted their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley started coverage on shares of ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $250.08.

ResMed Stock Down 0.9 %

RMD stock opened at $211.04 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a market cap of $30.99 billion, a PE ratio of 24.92, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed has a 12 month low of $178.49 and a 12 month high of $263.05. The firm has a 50 day simple moving average of $222.61 and a 200 day simple moving average of $234.30.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities research analysts forecast that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 1.00%. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,013 shares of company stock valued at $11,298,816 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently modified their holdings of the business. First Horizon Advisors Inc. raised its stake in ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in shares of ResMed in the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. grew its position in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management increased its stake in ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after acquiring an additional 1,100 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in ResMed by 2.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after acquiring an additional 1,629 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

About ResMed

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.