ResMed (NYSE:RMD) Given New $240.00 Price Target at Stifel Nicolaus

ResMed (NYSE:RMD - Get Free Report) had its target price lowered by stock analysts at Stifel Nicolaus from $250.00 to $240.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the medical equipment provider's stock. Stifel Nicolaus' target price indicates a potential upside of 3.27% from the company's current price.

RMD has been the subject of a number of other reports. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. KeyCorp lifted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Finally, 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. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $243.82.

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ResMed Stock Performance

RMD stock traded up $7.37 during trading on Wednesday, reaching $232.40. The company had a trading volume of 908,219 shares, compared to its average volume of 969,666. The firm has a 50-day simple moving average of $236.70 and a 200-day simple moving average of $239.93. The company has a market cap of $34.13 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 has a twelve month low of $172.19 and a twelve month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts expect that ResMed will post 9.47 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares of the company's stock, valued at approximately $17,127,890.78. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,186 shares of company stock valued at $4,996,646. 0.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMD. True Wealth Design LLC increased its holdings in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Colonial Trust Co SC grew its holdings in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of ResMed during the fourth quarter worth $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the third quarter worth $34,000. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

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.