Crossmark Global Holdings Inc. has raised its holdings in ResMed Inc. by 17.1% during the fourth quarter, according to a 13F filing with the SEC. The fund now owns 10,265 shares of the medical equipment provider’s stock, worth $2.14m. Other hedge funds, including Point72 Asset Management L.P., Capital Research Global Investors, Vanguard Group Inc., Voya Investment Management LLC and Royal Bank of Canada have also modified their holdings in ResMed recently. Analysts at Citigroup have upgraded ResMed from a “neutral” rating to a “buy” rating, while JPMorgan Chase & Co. raised their price objective on ResMed shares from $245.00 to $260.00 and gave the stock an “overweight” rating. ResMed’s shares trade on NYSE with the ticker RMD. The company has a market cap of $31.73bn, a price-to-earnings ratio of 39.19, and a beta of 0.48. The firm had a net margin of 21.51% and a return on equity of 25.46%. ResMed last reported earnings per share (EPS) of $1.66 for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04.
ResMed Inc. Stock Forecast
ResMed Inc. stock’s average analyst target price for the next 12 months is USD 258.29, according to eight analysts. The average analyst rating for the stock is Buy, and Stock Target Advisor’s analysis of the stock is Bullish, based on 11 positive signals and four negative signals. As of the last closing, the stock was priced at USD 215.95. Over the past week, ResMed’s stock price increased by 2.55%, while over the past month, it has gone up by 0.13%. However, over the last year, it has decreased by 13.28%.
Company Overview
ResMed Inc. is a medical device and software company that develops, manufactures, and distributes solutions for respiratory disorders. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service, and offers a range of products including medical and consumer devices, ventilation devices, diagnostic products, and cloud-based software informatics solutions to manage patient outcomes. ResMed also provides various out-of-hospital software solutions such as Brightree and HEALTHCAREfirst to healthcare providers. The company markets its products to sleep clinics, home healthcare dealers, and hospitals through distributors and a direct sales force in around 140 countries. ResMed was founded in 1989 and is headquartered in San Diego, California.
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