Insider Selling: ResMed Inc. (NYSE:RMD) General Counsel Sells 64 Shares of Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of ResMed stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $242.42, for a total value of $15,514.88. Following the sale, the general counsel now owns 8,974 shares of the company’s stock, valued at approximately $2,175,477.08. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ResMed Price Performance

RMD opened at $240.73 on Wednesday. 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 stock’s 50 day simple moving average is $240.00 and its 200 day simple moving average is $236.89. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 1.69 and a beta of 0.70. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, analysts predict that ResMed Inc. will post 9.41 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is 25.03%.

Institutional Trading of ResMed

A number of institutional investors have recently modified their holdings of the company. True Wealth Design LLC increased its holdings in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the 3rd quarter worth approximately $34,000. BankPlus Trust Department purchased a new position in shares of ResMed during the fourth quarter valued at approximately $44,000. Rosenberg Matthew Hamilton bought a new position in shares of ResMed during the fourth quarter valued at approximately $54,000. Finally, Capital Performance Advisors LLP bought a new position in shares of ResMed during the third quarter valued at approximately $60,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RMD shares. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Royal Bank of Canada lifted their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Finally, Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

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.