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 ResMed stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $242.00, for a total value of $16,698.00. Following the sale, the general counsel now owns 10,443 shares in the company, valued at $2,527,206. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Trading Up 0.5 %

NYSE RMD traded up $1.32 during trading on Tuesday, hitting $244.93. 350,086 shares of the company’s stock traded hands, compared to its average volume of 1,050,398. The stock has a fifty day moving average of $242.99 and a two-hundred day moving average of $220.75. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 12-month low of $140.81 and a 12-month high of $260.49. The firm has a market cap of $35.96 billion, a P/E ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s payout ratio is 28.08%.

Institutional Investors Weigh In On ResMed

Hedge funds have recently modified their holdings of the business. OFI Invest Asset Management acquired a new stake in shares of ResMed in the second quarter worth $32,000. Ashton Thomas Securities LLC purchased a new position in ResMed during the third quarter worth about $34,000. Versant Capital Management Inc raised its stake in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. purchased a new position in ResMed during the second quarter worth about $37,000. Finally, Blue Trust Inc. raised its stake in ResMed by 182.7% during the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of several research analyst reports. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Royal Bank of Canada lifted their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Finally, Wolfe Research restated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.