Insider Selling: ResMed Inc. (NYSE:RMD) CFO Sells 1,000 Shares of Stock

ResMed Inc. (NYSE:RMD) CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Brett Sandercock also recently made the following trade(s):

• On Monday, June 10th, Brett Sandercock sold 1,000 shares of ResMed stock. The stock was sold at an average price of $209.81, for a total transaction of $209,810.00.

ResMed Price Performance

RMD stock traded down $2.58 during mid-day trading on Tuesday, hitting $190.34. The stock had a trading volume of 956,591 shares, compared to its average volume of 1,067,393. The firm has a fifty day simple moving average of $207.99 and a 200 day simple moving average of $192.17. The firm has a market capitalization of $27.96 billion, a P/E ratio of 29.63, a P/E/G ratio of 1.69 and a beta of 0.66. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $229.97.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $1.68 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, research analysts forecast that ResMed Inc. will post 7.7 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.01%. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of ResMed during the fourth quarter worth $27,000. Hall Laurie J Trustee bought a new stake in ResMed during the 1st quarter worth $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed in the 1st quarter worth about $35,000. Versant Capital Management Inc increased its holdings in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares in the last quarter. Finally, Planned Solutions Inc. bought a new position in ResMed in the fourth quarter valued at about $34,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. KeyCorp raised their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Royal Bank of Canada upped their price objective on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a report on Friday, April 26th. Mizuho reissued a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $236.00 price target on shares of ResMed in a research note on Monday, June 24th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $202.80.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.