Michael J. Rider Sells 74 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 74 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $248.91, for a total transaction of $18,419.34. Following the completion of the sale, the general counsel now owns 9,113 shares in the company, valued at approximately $2,268,316.83. This trade represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ResMed Stock Up 0.8 %

Shares of RMD stock opened at $246.91 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1 year low of $159.60 and a 1 year high of $260.49. The firm’s fifty day moving average price is $242.21 and its two-hundred day moving average price is $226.07. The firm has a market capitalization of $36.25 billion, a P/E ratio of 32.70, a PEG ratio of 1.78 and a beta of 0.68.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the previous year, the business earned $1.64 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, equities analysts predict that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. True Wealth Design LLC grew its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. OFI Invest Asset Management bought a new position in shares of ResMed in the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new position in shares of ResMed in the 3rd quarter valued at about $34,000. Versant Capital Management Inc grew its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the period. Finally, Financial Connections Group Inc. bought a new position in shares of ResMed in the 2nd quarter valued at about $37,000. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several analyst reports. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Finally, KeyCorp raised their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $225.70.

About ResMed

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.