Justin Leong Sells 6,160 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

ResMed Price Performance

RMD opened at $249.33 on Thursday. The company’s 50-day simple moving average is $242.03 and its two-hundred day simple moving average is $225.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock has a market capitalization of $36.60 billion, a P/E ratio of 33.02, a P/E/G ratio of 1.82 and a beta of 0.69. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49.

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, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, analysts predict that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. iA Global Asset Management Inc. purchased a new stake in shares of ResMed during the 1st quarter valued at about $3,055,000. Versor Investments LP raised its position in ResMed by 327.3% in the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after acquiring an additional 3,600 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of ResMed by 245.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 33,507 shares of the medical equipment provider’s stock worth $6,414,000 after acquiring an additional 23,801 shares during the last quarter. Addenda Capital Inc. grew its position in shares of ResMed by 17.4% during the 2nd quarter. Addenda Capital Inc. now owns 58,986 shares of the medical equipment provider’s stock valued at $11,291,000 after acquiring an additional 8,747 shares during the period. Finally, Retireful LLC purchased a new stake in shares of ResMed in the 3rd quarter worth $742,000. Institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird boosted their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada boosted their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wolfe Research restated an “underperform” rating and set a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.