ResMed (NYSE:RMD) General Counsel Michael Rider Sells 400 Shares of Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 400 shares of the company’s stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $255.00, for a total value of $102,000.00. Following the completion of the sale, the general counsel owned 12,318 shares in the company, valued at $3,141,090. The trade was a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Performance

NYSE RMD traded up $0.57 on Monday, reaching $253.43. 1,048,695 shares of the stock were exchanged, compared to its average volume of 1,294,527. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. ResMed Inc. has a one year low of $180.26 and a one year high of $277.67. The firm has a market capitalization of $35.64 billion, a PE ratio of 24.30, a PEG ratio of 1.55 and a beta of 0.75. The company’s 50-day simple moving average is $229.70 and its two-hundred day simple moving average is $215.19.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.89 by $0.06. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.55 EPS. Analysts expect that ResMed Inc. will post 12.11 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 20th. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio is currently 25.31%.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC boosted its position in shares of ResMed by 6.1% in the third quarter. V Square Quantitative Management LLC now owns 2,117 shares of the medical equipment provider’s stock worth $468,000 after buying an additional 122 shares during the period. QRG Capital Management Inc. raised its position in ResMed by 2.8% during the second quarter. QRG Capital Management Inc. now owns 25,169 shares of the medical equipment provider’s stock valued at $4,905,000 after buying an additional 679 shares during the period. State Street Corp boosted its position in ResMed by 0.6% during the 2nd quarter. State Street Corp now owns 6,680,735 shares of the medical equipment provider’s stock worth $1,301,942,000 after acquiring an additional 37,567 shares during the period. Tidal Investments LLC lifted its position in shares of ResMed by 21.1% in the second quarter. Tidal Investments LLC now owns 32,332 shares of the medical equipment provider’s stock worth $6,301,000 after purchasing an additional 5,627 shares in the last quarter. Finally, National Pension Service lifted its position in shares of ResMed by 15.5% in the second quarter. National Pension Service now owns 281,465 shares of the medical equipment provider’s stock worth $54,852,000 after purchasing an additional 37,680 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RMD. KeyCorp raised their price target on shares of ResMed from $255.00 to $267.00 and gave the stock an “overweight” rating in a report on Monday, August 31st. Rothschild & Co Redburn assumed coverage on ResMed in a report on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 price objective on the stock. Citigroup reiterated a “neutral” rating on shares of ResMed in a research report on Thursday, September 10th. Jefferies Financial Group lowered their price objective on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research report on Friday, July 10th. Finally, UBS Group reissued a “buy” rating and set a $300.00 target price on shares of ResMed in a research note on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, ResMed has an average rating of “Hold” and an average price target of $243.23.

ResMed Company Profile

ResMed Inc is a medical equipment and software company that develops solutions for sleep-disordered breathing, respiratory conditions and other chronic diseases. The company is best known for its positive airway pressure (PAP) devices used to treat obstructive sleep apnea, along with masks, accessories and related patient support services.

ResMed also provides cloud-connected health technology, including remote-monitoring platforms and software used by healthcare providers, medical equipment suppliers and care organizations.