Michael Rider Sells 50 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 50 shares of ResMed stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $260.00, for a total transaction of $13,000.00. Following the transaction, the general counsel directly owned 9,691 shares of the company’s stock, valued at $2,519,660. This represents a 0.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ResMed Stock Performance

Shares of RMD opened at $271.86 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $251.78 and its two-hundred day simple moving average is $263.37. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock has a market capitalization of $39.60 billion, a P/E ratio of 26.89, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the business earned $2.43 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. boosted its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of ResMed during the fourth quarter valued at about $25,000. ORG Partners LLC lifted its position in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new position in ResMed during the third quarter worth about $26,000. Finally, WFA of San Diego LLC bought a new stake in ResMed in the 2nd quarter worth about $26,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several research analyst reports. Stifel Nicolaus increased their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Wells Fargo & Company upped their price objective on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Morgan Stanley set a $305.00 target price on ResMed in a research note on Friday, October 31st. Robert W. Baird set a $281.00 price target on ResMed in a research note on Friday, January 30th. Finally, UBS Group reiterated a “buy” rating and issued a $345.00 price target on shares of ResMed in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.