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

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $222.86, for a total transaction of $14,263.04. Following the transaction, the general counsel now directly owns 8,846 shares of the company’s stock, valued at $1,971,419.56. This represents a 0.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

ResMed Price Performance

Shares of NYSE:RMD opened at $204.72 on Friday. 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 stock has a market capitalization of $30.07 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm’s 50 day moving average price is $230.74 and its 200-day moving average price is $237.04. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RMD. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in RMD. Colonial Trust Co SC increased its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of ResMed in the fourth quarter worth approximately $33,000. Itau Unibanco Holding S.A. increased its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of ResMed during the 4th quarter valued at $39,000. Finally, Coppell Advisory Solutions LLC lifted its stake in shares of ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 175 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

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.