KeyCorp Forecasts Strong Price Appreciation for ResMed (NYSE:RMD) Stock

ResMed (NYSE:RMD) had its price objective upped by KeyCorp from $266.00 to $280.00 in a research report report published on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the medical equipment provider’s stock.

RMD has been the topic of several other research reports. Royal Bank of Canada boosted their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. Robert W. Baird increased their target price on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday. Finally, The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. One equities 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

ResMed Trading Down 8.1 %

Shares of ResMed stock opened at $236.66 on Friday. The business has a fifty day simple moving average of $240.17 and a two-hundred day simple moving average of $236.41. ResMed has a 1 year low of $170.56 and a 1 year high of $263.05. The company has a market capitalization of $34.74 billion, a price-to-earnings ratio of 31.35, a P/E/G ratio of 1.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. Research analysts forecast that ResMed will post 9.35 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Justin Leong sold 6,160 shares of the company’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 value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock worth $2,702,687 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ResMed

Large investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in ResMed by 4.7% during the 2nd quarter. Creative Planning now owns 24,282 shares of the medical equipment provider’s stock worth $4,648,000 after buying an additional 1,082 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in ResMed by 30.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock worth $982,000 after buying an additional 1,208 shares in the last quarter. Quarry LP lifted its holdings in ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after buying an additional 242 shares in the last quarter. Cetera Investment Advisers lifted its holdings in ResMed by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after buying an additional 2,053 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of ResMed in the 2nd quarter valued at $1,162,000. 54.98% of the stock is currently owned by institutional investors.

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.