ResMed (NYSE:RMD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

ResMed (NYSE:RMD) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $286.00 to $290.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the medical equipment provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.99% from the company’s current price.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Mizuho set a $265.00 price target on ResMed in a report on Wednesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.31.

ResMed Stock Performance

NYSE RMD opened at $235.79 on Thursday. ResMed has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The firm has a market capitalization of $34.63 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The stock’s fifty day moving average is $221.92 and its two-hundred day moving average is $234.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, hitting analysts’ consensus estimates of $2.37. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts anticipate that ResMed will post 9.47 earnings per share for the current year.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,013 shares of company stock worth $11,298,816. Company insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

Several institutional investors have recently modified their holdings of the stock. Howard Capital Management Inc. grew its position in ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 45 shares during the last quarter. CVA Family Office LLC raised its position in ResMed by 29.8% in the first quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider’s stock worth $47,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of ResMed by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider’s stock valued at $126,000 after purchasing an additional 50 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in shares of ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the period. Finally, Wedmont Private Capital boosted its holdings in ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after buying an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

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.