Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells 796 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Witte Jan De sold 796 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ResMed Stock Performance

NYSE RMD traded down $1.53 on Thursday, reaching $233.91. The stock had a trading volume of 270,407 shares, compared to its average volume of 1,045,089. The company has a market cap of $34.34 billion, a P/E ratio of 31.18, a price-to-earnings-growth ratio of 1.81 and a beta of 0.69. 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 firm has a fifty day moving average of $243.30 and a two-hundred day moving average of $223.37. ResMed Inc. has a 1-year low of $147.31 and a 1-year high of $260.49.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 EPS. On average, equities research analysts anticipate that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. ResMed’s dividend payout ratio is currently 28.08%.

Hedge Funds Weigh In On ResMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of ResMed in the 2nd quarter valued at $32,000. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the third quarter valued at approximately $34,000. Versant Capital Management Inc lifted 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 valued at $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new position in ResMed in the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. grew its stake in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on RMD. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Royal Bank of Canada increased their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Robert W. Baird raised their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price 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.