Michael J. Rider Sells 69 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 69 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $242.00, for a total transaction of $16,698.00. Following the transaction, the general counsel now owns 10,443 shares in the company, valued at approximately $2,527,206. 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 can be accessed through this link.

ResMed Stock Performance

RMD opened at $245.63 on Thursday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $36.06 billion, a PE ratio of 32.53, a P/E/G ratio of 1.78 and a beta of 0.69. The firm has a 50 day moving average of $243.12 and a two-hundred day moving average of $221.39. ResMed Inc. has a 12-month low of $140.81 and a 12-month high of $260.49.

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

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is 28.08%.

Hedge Funds Weigh In On ResMed

Several institutional investors have recently made changes to their positions in RMD. OFI Invest Asset Management purchased a new position in shares of ResMed during the 2nd quarter valued at approximately $32,000. Ashton Thomas Securities LLC purchased a new position in shares of ResMed during the 3rd quarter valued at approximately $34,000. Versant Capital Management Inc grew its stake in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Financial Connections Group Inc. acquired a new stake in ResMed in the 2nd quarter valued at $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 acquiring an additional 137 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RMD shares. KeyCorp raised their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report 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. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, 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 research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

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.