ResMed surged to $242.25 per share this morning, but it remains 6.23% above its mean target price of $228.04. There may still be room for more downwards movement — even after today's 7.3% drop. Analysts are giving the Large-Cap Medical Instruments & Supplies stock on average rating of buy, with target prices ranging from $200.0 to $251.0 per share.
The stock has an average amount of shares sold short at 7.6%, and a short ratio of 9.14. The company's insiders own 0.8% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 60.0% of ResMed's shares being owned by this investor type.
Institutions Invested in ResMed
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2024-06-30 | Vanguard Group Inc | 12% | 17,900,302 | $4,336,348,159 |
| 2024-06-30 | Blackrock Inc. | 8% | 11,691,961 | $2,832,377,552 |
| 2024-06-30 | State Street Corporation | 4% | 6,144,715 | $1,488,557,208 |
| 2024-06-30 | Bank Of New York Mellon Corporation | 4% | 5,772,761 | $1,398,451,352 |
| 2024-06-30 | Geode Capital Management, LLC | 2% | 3,478,431 | $842,649,909 |
| 2024-06-30 | Morgan Stanley | 2% | 3,396,522 | $822,807,454 |
| 2024-06-30 | Invesco Ltd. | 1% | 1,772,737 | $429,445,538 |
| 2024-06-30 | Northern Trust Corporation | 1% | 1,465,257 | $354,958,508 |
| 2024-06-30 | Goldman Sachs Group Inc | 1% | 1,103,839 | $267,404,997 |
| 2024-06-30 | Legal & General Group PLC | 1% | 1,072,256 | $259,754,016 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on ResMed.
