ResMed Inc. (NYSE:RMD) Short Interest Down 16.5% in June

ResMed Inc. (NYSE:RMD) saw a significant drop in short interest in June. As of June 15th, there was short interest totalling 8,240,000 shares, a drop of 16.5% from the May 31st total of 9,870,000 shares. Based on an average trading volume of 1,130,000 shares, the short-interest ratio is presently 7.3 days.

Insider Activity at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $209.81, for a total value of $209,810.00. Following the completion of the transaction, the chief financial officer now owns 91,056 shares in the company, valued at $19,104,459.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the transaction, the chief financial officer now directly owns 91,056 shares in the company, valued at approximately $19,104,459.36. The disclosure for this sale can be found here. Insiders sold 31,151 shares of company stock valued at $6,666,409 over the last 90 days. Corporate insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several institutional investors have recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new stake in ResMed during the 4th quarter valued at approximately $27,000. Hall Laurie J Trustee acquired a new position in ResMed during the first quarter valued at $32,000. Planned Solutions Inc. acquired a new position in ResMed during the fourth quarter valued at $34,000. BOK Financial Private Wealth Inc. purchased a new stake in ResMed in the first quarter valued at $35,000. Finally, MV Capital Management Inc. grew its position in ResMed by 39.0% during the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 60 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RMD has been the topic of a number of analyst reports. KeyCorp upped their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada boosted their target price on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Finally, Mizuho reissued a “buy” rating and issued a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $202.80.

ResMed Stock Down 0.1 %

RMD stock traded down $0.16 during trading on Friday, hitting $191.42. 3,500,754 shares of the company’s stock traded hands, compared to its average volume of 1,291,510. The firm has a market capitalization of $28.12 billion, a P/E ratio of 29.40, a PEG ratio of 1.88 and a beta of 0.68. ResMed has a 1 year low of $132.24 and a 1 year high of $229.97. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $208.47 and a two-hundred day simple moving average of $191.40.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period in the previous year, the company posted $1.68 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that ResMed will post 7.7 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend was Wednesday, May 8th. ResMed’s dividend payout ratio is currently 29.49%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.