Michael J. Rider Sells 64 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of ResMed stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $242.42, for a total transaction of $15,514.88. Following the transaction, the general counsel now directly owns 8,974 shares of the company’s stock, valued at $2,175,477.08. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Performance

Shares of RMD stock opened at $242.19 on Thursday. The stock has a market cap of $35.55 billion, a PE ratio of 28.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The stock has a 50-day moving average of $239.82 and a 200-day moving average of $237.15. 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 Inc. has a one year low of $170.56 and a one year high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts expect that ResMed Inc. will post 9.41 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RMD. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Stifel Nicolaus started coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price target on the stock. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $244.73.

Institutional Investors Weigh In On ResMed

Large investors have recently modified their holdings of the business. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new position in ResMed in the third quarter valued at approximately $34,000. BankPlus Trust Department acquired a new position in shares of ResMed in the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the fourth quarter worth $54,000. Finally, Capital Performance Advisors LLP bought a new stake in ResMed in the 3rd quarter valued at $60,000. 54.98% of the stock is currently owned by 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.