Analysts Set ResMed Inc. (NYSE:RMD) PT at $263.00

ResMed Inc. (NYSE:RMD) has earned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $263.00.

A number of equities analysts recently weighed in on RMD shares. Royal Bank Of Canada raised shares of ResMed from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $255.00 to $294.00 in a report on Tuesday, July 15th. UBS Group cut their price objective on shares of ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Mizuho boosted their target price on shares of ResMed from $250.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 16th. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Finally, KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th.

Insider Transactions at ResMed

In other ResMed news, Director Witte Jan De sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares of the company’s stock, valued at $1,413,586.82. The trade was a 25.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the sale, the chief executive officer owned 455,503 shares in the company, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,013 shares of company stock valued at $7,238,913. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. GAMMA Investing LLC lifted its stake in ResMed by 23,982.6% during the first quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider’s stock worth $164,207,000 after purchasing an additional 730,510 shares during the last quarter. Invesco Ltd. raised its holdings in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in ResMed by 1,168.5% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider’s stock worth $132,272,000 after buying an additional 544,311 shares during the last quarter. Norges Bank bought a new stake in ResMed in the 4th quarter worth approximately $118,605,000. Finally, Captrust Financial Advisors boosted its stake in ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock worth $101,387,000 after buying an additional 394,803 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Stock Down 0.1%

RMD stock opened at $277.37 on Monday. The stock has a market cap of $40.67 billion, a P/E ratio of 31.13, a P/E/G ratio of 1.72 and a beta of 0.77. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $255.34 and its two-hundred day simple moving average is $239.69. ResMed has a 1-year low of $199.92 and a 1-year high of $278.86.

ResMed Company Profile

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.