KeyCorp Issues Positive Forecast for ResMed (NYSE:RMD) Stock Price

ResMed (NYSE:RMD) had its target price raised by KeyCorp from $266.00 to $280.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other equities analysts also recently issued reports on the stock. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday. Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus assumed coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 8.1 %

Shares of NYSE RMD opened at $236.66 on Friday. ResMed has a twelve month low of $170.56 and a twelve month high of $263.05. The firm has a market cap of $34.74 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70. The business has a fifty day simple moving average of $240.17 and a two-hundred day simple moving average of $236.21. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. Analysts expect that ResMed will post 9.35 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is presently 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,030 shares of company stock worth $2,702,687. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ResMed

Hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. lifted its holdings in shares of ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after buying an additional 47 shares during the period. Ascent Group LLC lifted its holdings in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock valued at $714,000 after acquiring an additional 48 shares during the period. SkyView Investment Advisors LLC boosted its position in ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital grew its stake in shares of ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of ResMed by 3.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after purchasing an additional 57 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other 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.