ResMed Inc. (NYSE:RMD) General Counsel Sells $14,263.04 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $222.86, for a total value of $14,263.04. Following the completion of the sale, the general counsel now directly owns 8,846 shares in the company, valued at approximately $1,971,419.56. The trade was a 0.72 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

ResMed Trading Down 4.0 %

NYSE:RMD traded down $8.86 during trading hours on Thursday, reaching $214.14. 687,516 shares of the company were exchanged, compared to its average volume of 997,820. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The stock has a 50 day simple moving average of $232.37 and a 200 day simple moving average of $237.54. The firm has a market cap of $31.45 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Stifel Nicolaus cut their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $249.73.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its stake in ResMed by 3.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 68,739 shares of the medical equipment provider’s stock worth $15,387,000 after buying an additional 2,142 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in ResMed by 306.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 29,549 shares of the medical equipment provider’s stock worth $6,758,000 after purchasing an additional 22,278 shares during the period. NorthCrest Asset Manangement LLC increased its holdings in ResMed by 1.0% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 53,033 shares of the medical equipment provider’s stock valued at $12,128,000 after purchasing an additional 541 shares in the last quarter. Menard Financial Group LLC acquired a new stake in ResMed in the 4th quarter valued at $98,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in ResMed in the fourth quarter valued at about $19,540,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.