ResMed Inc. (RMD) Receives $65.83 Consensus Target Price from Brokerages

Shares of ResMed Inc. (NYSE:RMD) have been given a consensus rating of “Hold” by the thirteen research firms that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $70.57.

RMD has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Friday, October 27th. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “sell” rating in a report on Tuesday, October 24th. JPMorgan Chase & Co. upped their target price on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Barclays increased their price objective on shares of ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, October 27th.

In related news, insider David Pendarvis sold 6,364 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $82.20, for a total value of $523,120.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $84.50, for a total transaction of $105,625.00. Following the completion of the transaction, the chief financial officer now directly owns 71,772 shares of the company’s stock, valued at approximately $6,064,734. The disclosure for this sale can be found here. Insiders have sold a total of 158,929 shares of company stock valued at $13,181,009 in the last three months. Insiders own 1.77% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC lifted its holdings in shares of ResMed by 4.9% in 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 last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ResMed by 2.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,489 shares of the medical equipment provider’s stock valued at $272,000 after acquiring an additional 82 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of ResMed by 12.8% in 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 last quarter. WINTON GROUP Ltd lifted its holdings in shares of ResMed by 8.6% in the 3rd quarter. WINTON GROUP Ltd now owns 8,076 shares of the medical equipment provider’s stock valued at $622,000 after acquiring an additional 640 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of ResMed by 26.7% in the 3rd quarter. Advisor Group Inc. now owns 3,164 shares of the medical equipment provider’s stock valued at $244,000 after acquiring an additional 667 shares during the last quarter. 61.81% of the stock is owned by hedge funds and other institutional investors.

Shares of ResMed (NYSE RMD) traded up $0.06 during trading on Monday, reaching $88.79. 585,449 shares of the company traded hands, compared to its average volume of 490,321. The company has a market cap of $12,467.68, a P/E ratio of 35.95, a P/E/G ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.72 and a quick ratio of 3.86. ResMed has a one year low of $62.64 and a one year high of $89.21.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $523.66 million during the quarter, compared to the consensus estimate of $506.08 million. ResMed had a net margin of 16.58% and a return on equity of 21.53%. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. analysts anticipate that ResMed will post 3.04 earnings per share for the current fiscal year.

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About ResMed

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.

Analyst Recommendations for ResMed (NYSE:RMD)

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