KeyCorp Has Lowered Expectations for ResMed (NYSE:RMD) Stock Price

ResMed (NYSE:RMD - Get Free Report) had its price target dropped by KeyCorp from $280.00 to $269.00 in a research note issued on Monday, MarketBeat Ratings reports. The brokerage presently has an "overweight" rating on the medical equipment provider's stock. KeyCorp's target price indicates a potential upside of 16.19% from the company's current price.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus cut their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $254.31.

ResMed Stock Down 1.9 %

Shares of NYSE:RMD traded down $4.59 during midday trading on Monday, hitting $231.51. The stock had a trading volume of 174,839 shares, compared to its average volume of 1,027,172. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business's 50-day simple moving average is $221.81 and its 200-day simple moving average is $234.05. ResMed has a 12 month low of $179.00 and a 12 month high of $263.05. The company has a market cap of $34.00 billion, a P/E ratio of 27.40, a PEG ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, hitting the consensus estimate of $2.37. The business had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, sell-side analysts forecast that ResMed will post 9.47 earnings per share for the current fiscal year.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the sale, the director now directly owns 73,218 shares of the company's stock, valued at approximately $16,088,923.32. This represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,013 shares of company stock worth $11,298,816. Insiders own 0.71% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RMD. Global X Japan Co. Ltd. grew its position in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Colonial Trust Co SC grew its holdings in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. purchased a new stake in ResMed in the fourth quarter worth $33,000. Golden State Wealth Management LLC raised its stake in shares of ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its position in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the last quarter. 54.98% of the stock is 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.