ResMed Inc. (NYSE:RMD) Insider Sells $1,015,924.80 in Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the transaction, the insider now directly owns 21,788 shares in the company, valued at approximately $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kaushik Ghoshal also recently made the following trade(s):

• On Thursday, September 12th, Kaushik Ghoshal sold 5,000 shares of ResMed stock. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00.

ResMed Stock Up 0.6 %

NYSE RMD opened at $239.69 on Friday. The business has a fifty day moving average price of $238.31 and a two-hundred day moving average price of $215.53. The stock has a market capitalization of $35.18 billion, a PE ratio of 34.59, a PEG ratio of 2.17 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned $1.60 EPS. ResMed’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. ResMed’s payout ratio is 30.59%.

Hedge Funds Weigh In On ResMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after buying an additional 35,273 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in ResMed in the 1st quarter worth about $2,246,000. Janney Montgomery Scott LLC raised its position in ResMed by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after purchasing an additional 4,075 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP bought a new stake in shares of ResMed during the fourth quarter worth about $7,535,000. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on RMD shares. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. Robert W. Baird assumed coverage on shares of ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target on the stock. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Finally, StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

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.