ResMed (NYSE:RMD) Given New $236.00 Price Target at Needham & Company LLC

ResMed (NYSE:RMD) had its price target increased by Needham & Company LLC from $224.00 to $236.00 in a research report sent to investors on Friday, Benzinga reports. Needham & Company LLC currently has a buy rating on the medical equipment provider’s stock.

RMD has been the subject of several other reports. Royal Bank of Canada boosted their price objective on ResMed from $181.00 to $182.00 and gave the stock a sector perform rating in a report on Thursday, January 25th. Mizuho restated a buy rating and issued a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. KeyCorp started coverage on shares of ResMed in a report on Tuesday, February 6th. They set an overweight rating and a $227.00 target price for the company. Oppenheimer increased their price target on ResMed from $185.00 to $205.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on ResMed from $160.00 to $195.00 and gave the stock an overweight rating in a research note on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, ResMed presently has a consensus rating of Moderate Buy and a consensus price target of $202.80.

ResMed Stock Up 18.9 %

Shares of NYSE:RMD opened at $218.06 on Friday. ResMed has a 12 month low of $132.24 and a 12 month high of $243.52. The firm has a market cap of $32.07 billion, a P/E ratio of 33.50, a P/E/G ratio of 2.26 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $187.07 and its two-hundred day moving average price is $171.97.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

Insider Activity

In related news, General Counsel Michael J. Rider sold 200 shares of the 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 completion of the sale, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of ResMed 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 completion of the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock worth $2,046,617 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently bought and sold shares of RMD. MV Capital Management Inc. grew its stake in shares of ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in ResMed by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock worth $155,000 after purchasing an additional 64 shares during the last quarter. Gulf International Bank UK Ltd grew its position in ResMed by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock valued at $2,497,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC increased its stake in ResMed by 2.6% in the 3rd quarter. Great Lakes Advisors LLC now owns 2,643 shares of the medical equipment provider’s stock valued at $391,000 after buying an additional 68 shares during the last quarter. Finally, Harfst & Associates Inc. increased its stake in ResMed by 0.7% in the 3rd quarter. Harfst & Associates Inc. now owns 10,995 shares of the medical equipment provider’s stock valued at $1,626,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Company Profile

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.