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

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the 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 completion of the sale, the general counsel now owns 8,974 shares of the company’s stock, valued at approximately $2,175,477.08. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

ResMed Price Performance

RMD opened at $240.73 on Wednesday. The company has a market capitalization of $35.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.69 and a beta of 0.70. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a 50-day moving average price of $240.00 and a 200-day moving average price of $236.89. ResMed Inc. has a twelve month low of $170.56 and a twelve month 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 analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities analysts expect that ResMed Inc. will post 9.41 EPS for the current year.

ResMed Announces Dividend

The business 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. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s payout ratio is 25.03%.

Institutional Trading of ResMed

A number of institutional investors have recently added to or reduced their stakes in the stock. Peak Financial Advisors LLC purchased a new position in ResMed during the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. grew its stake in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares in the last quarter. Retireful LLC purchased a new position in ResMed during the third quarter valued at approximately $742,000. Asset Management One Co. Ltd. increased its holdings in ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock worth $14,369,000 after acquiring an additional 2,878 shares during the period. Finally, Empowered Funds LLC lifted its stake in ResMed by 284.3% in the 3rd quarter. Empowered Funds LLC now owns 8,208 shares of the medical equipment provider’s stock worth $2,004,000 after purchasing an additional 6,072 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RMD. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $244.73.

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.