Michael J. Rider Sells 74 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 74 shares of ResMed stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $248.91, for a total transaction of $18,419.34. Following the completion of the sale, the general counsel now owns 9,113 shares in the company, valued at approximately $2,268,316.83. This represents a 0.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ResMed Trading Down 0.4 %

Shares of RMD stock opened at $245.80 on Thursday. The firm has a fifty day moving average of $242.31 and a 200-day moving average of $226.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed Inc. has a 52-week low of $160.16 and a 52-week high of $260.49. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 1.80 and a beta of 0.68.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. On average, equities research analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. ResMed’s dividend payout ratio is 28.08%.

Institutional Trading of ResMed

A number of hedge funds have recently modified their holdings of the company. True Wealth Design LLC raised its holdings in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth approximately $34,000. OFI Invest Asset Management acquired a new stake in shares of ResMed in the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in shares of ResMed in the second quarter valued at approximately $37,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on RMD shares. KeyCorp raised their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada raised their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Bank of America raised their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $225.70.

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.