ResMed Inc. (NYSE:RMD) General Counsel Sells $14,263.04 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $222.86, for a total transaction of $14,263.04. Following the completion of the sale, the general counsel now directly owns 8,846 shares in the company, valued at $1,971,419.56. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

ResMed Stock Performance

ResMed stock opened at $204.72 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm’s fifty day moving average price is $230.74 and its 200 day moving average price is $236.95. The company has a market capitalization of $30.07 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus lowered their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $249.73.

Institutional Trading of ResMed

A number of hedge funds have recently made changes to their positions in RMD. Vanguard Group Inc. boosted its stake in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock valued at $4,156,089,000 after acquiring an additional 160,590 shares during the last quarter. State Street Corp grew its stake in ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Geode Capital Management LLC increased its holdings in ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock valued at $899,860,000 after buying an additional 85,270 shares during the last quarter. Invesco Ltd. raised its stake in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock worth $389,365,000 after buying an additional 290,664 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.