Kaushik Ghoshal Sells 4,260 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 4,260 shares of ResMed stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $252.56, for a total value of $1,262,800.00.

ResMed Trading Down 0.3 %

ResMed stock opened at $238.46 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The stock has a market cap of $35.03 billion, a P/E ratio of 36.63, a PEG ratio of 2.14 and a beta of 0.69. The firm’s fifty day moving average price is $237.80 and its 200-day moving average price is $215.36.

ResMed (NYSE:RMD) last posted 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 net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business earned $1.60 earnings per share. ResMed’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio (DPR) is 32.57%.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research reports. Robert W. Baird initiated coverage on ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target for the company. Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Royal Bank of Canada boosted their price target on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Tuesday, October 1st. Finally, Bank of America boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One research 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 company. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. raised its position in ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after purchasing an additional 47 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of ResMed by 3.7% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 52 shares in the last quarter. QRG Capital Management Inc. lifted its position in ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 56 shares during the last quarter. Inspire Advisors LLC boosted its stake in ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after buying an additional 56 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in ResMed by 1.9% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after acquiring an additional 60 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.