Insider Selling: ResMed Inc. (NYSE:RMD) Insider Sells $2,332,075.95 in Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Kaushik Ghoshal also recently made the following trade(s):

• On Monday, March 3rd, Kaushik Ghoshal sold 9,113 shares of ResMed stock. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20.

ResMed Trading Down 0.4 %

NYSE RMD opened at $219.31 on Friday. The stock has a market capitalization of $32.21 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.53 and a beta of 0.74. The business has a 50 day simple moving average of $236.44 and a 200 day simple moving average of $239.84. 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 $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.97%. ResMed’s dividend payout ratio is currently 25.03%.

Analyst Ratings Changes

RMD has been the topic of a number of research reports. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler lifted their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

Hedge Funds Weigh In On ResMed

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC boosted its holdings in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Colonial Trust Co SC raised its position in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of ResMed during the third quarter worth approximately $34,000. Optiver Holding B.V. bought a new position in shares of ResMed in the 4th quarter worth $33,000. Finally, Itau Unibanco Holding S.A. grew its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Institutional investors 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.