ResMed Inc. (NYSE:RMD) Insider Justin Leong Sells 6,160 Shares

ResMed Inc. (NYSE:RMD) insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

ResMed Stock Up 0.8 %

ResMed stock traded up $1.99 during mid-day trading on Monday, reaching $245.77. 136,926 shares of the company’s stock were exchanged, compared to its average volume of 1,035,138. The company has a market cap of $36.08 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.77 and a beta of 0.69. ResMed Inc. has a twelve month low of $151.95 and a twelve month high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a fifty day moving average of $241.86 and a 200-day moving average of $224.56.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. Sell-side analysts expect that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 28.08%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RMD. Bessemer Group Inc. grew its position in ResMed by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 1,725 shares of the medical equipment provider’s stock worth $342,000 after purchasing an additional 221 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of ResMed by 2.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 416,761 shares of the medical equipment provider’s stock worth $82,532,000 after acquiring an additional 11,908 shares during the period. Mount Yale Investment Advisors LLC lifted its stake in shares of ResMed by 2.8% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 3,662 shares of the medical equipment provider’s stock worth $725,000 after acquiring an additional 99 shares during the period. Bayesian Capital Management LP lifted its stake in shares of ResMed by 110.2% in the 1st quarter. Bayesian Capital Management LP now owns 8,965 shares of the medical equipment provider’s stock worth $1,775,000 after acquiring an additional 4,700 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of ResMed by 4.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider’s stock worth $3,865,000 after acquiring an additional 902 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. KeyCorp boosted their target price on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.