Michael J. Rider Sells 69 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 69 shares of ResMed stock in a transaction on Friday, November 1st. The shares were sold at an average price of $242.00, for a total transaction of $16,698.00. Following the completion of the sale, the general counsel now directly owns 10,443 shares in the company, valued at $2,527,206. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ResMed Trading Down 0.0 %

Shares of RMD stock opened at $245.63 on Thursday. The company’s 50-day moving average price is $243.12 and its 200-day moving average price is $221.39. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 1.78 and a beta of 0.69. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, equities analysts predict that ResMed Inc. will post 9.22 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.86%. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RMD shares. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. KeyCorp lifted their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Royal Bank of Canada lifted their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in ResMed by 24.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after buying an additional 35,273 shares during the period. Mediolanum International Funds Ltd purchased a new stake in ResMed in the 1st quarter valued at about $2,246,000. State Board of Administration of Florida Retirement System raised its holdings in ResMed by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock valued at $37,586,000 after buying an additional 13,894 shares during the period. SG Americas Securities LLC raised its holdings in ResMed by 211.1% in the 1st quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after buying an additional 13,316 shares during the period. Finally, iA Global Asset Management Inc. purchased a new stake in ResMed in the 1st quarter valued at about $3,055,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

About ResMed

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.