ResMed Inc. (NYSE:RMD) General Counsel Sells $18,419.34 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 74 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $248.91, for a total transaction of $18,419.34. Following the sale, the general counsel now owns 9,113 shares of the company’s stock, valued at $2,268,316.83. This trade represents a 0.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ResMed Stock Down 1.7 %

RMD traded down $4.19 during trading on Monday, reaching $244.83. The company had a trading volume of 575,940 shares, compared to its average volume of 1,033,826. The company has a market cap of $35.94 billion, a P/E ratio of 32.43, a PEG ratio of 1.81 and a beta of 0.69. ResMed Inc. has a 12 month low of $159.60 and a 12 month high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The business’s fifty day moving average price is $242.21 and its 200 day moving average price is $225.87.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $1.64 EPS. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts anticipate that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio is currently 28.08%.

Institutional Trading of ResMed

A number of institutional investors have recently made changes to their positions in RMD. True Wealth Design LLC boosted its holdings 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 buying an additional 110 shares during the last quarter. OFI Invest Asset Management acquired a new stake in ResMed in the second quarter valued at $32,000. Ashton Thomas Securities LLC bought a new position in shares of ResMed in the 3rd quarter valued at about $34,000. Versant Capital Management Inc increased its stake in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new stake in shares of ResMed in the 2nd quarter valued at about $37,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird increased their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.