ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider Sells 74 Shares

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 74 shares of ResMed 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 directly owns 9,113 shares of the company’s stock, valued at $2,268,316.83. The trade was a 0.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

ResMed Price Performance

Shares of NYSE:RMD opened at $246.91 on Wednesday. The firm has a 50 day moving average of $242.21 and a 200-day moving average of $226.07. The stock has a market capitalization of $36.25 billion, a PE ratio of 32.70, a PEG ratio of 1.78 and a beta of 0.68. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 12 month low of $159.60 and a 12 month high of $260.49.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate 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 net margin of 23.15% and a return on equity of 25.53%. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 EPS. On average, equities research analysts predict that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The business 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. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is 28.08%.

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently added to or reduced their stakes in RMD. Bank of New York Mellon Corp increased its position in ResMed by 51.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Marshall Wace LLP bought a new stake in ResMed during the 2nd quarter worth approximately $77,285,000. Geode Capital Management LLC grew its holdings in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Greenvale Capital LLP grew its holdings in ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after acquiring an additional 249,454 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Bank of America lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, KeyCorp boosted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. 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 issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus 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.