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 stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at $18,894,120.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, July 8th, Brett Sandercock sold 1,000 shares of ResMed stock. The stock was sold at an average price of $194.35, for a total value of $194,350.00.
• 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 value of $209,810.00.

ResMed Trading Down 0.1 %

RMD traded down $0.30 during trading on Monday, hitting $216.29. The company’s stock had a trading volume of 137,854 shares, compared to its average volume of 1,058,743. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $225.68. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $204.58 and its 200-day moving average price is $198.11. The firm has a market capitalization of $31.77 billion, a P/E ratio of 33.27, a PEG ratio of 1.81 and a beta of 0.66.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 8.76 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.98%. ResMed’s payout ratio is currently 32.57%.

Institutional Investors Weigh In On ResMed

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in ResMed by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after buying an additional 173,635 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Norges Bank purchased a new position in ResMed in the fourth quarter worth $233,966,000. Charles Schwab Investment Management Inc. boosted its position in ResMed by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 863,289 shares of the medical equipment provider’s stock worth $148,503,000 after purchasing an additional 46,113 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $236.00 target price on shares of ResMed in a research report on Friday, August 2nd. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. KeyCorp lifted their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.70.

ResMed Company Profile

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.