Insider Selling: ResMed Inc. (NYSE:RMD) General Counsel Sells $15,514.88 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $242.42, for a total value of $15,514.88. Following the completion of the transaction, the general counsel now directly owns 8,974 shares in the company, valued at $2,175,477.08. This represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ResMed Stock Performance

NYSE RMD opened at $237.11 on Friday. The stock has a market cap of $34.81 billion, a P/E ratio of 27.99, a PEG ratio of 1.69 and a beta of 0.70. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $170.56 and a twelve month high of $263.05. The company’s 50-day simple moving average is $239.68 and its 200 day simple moving average is $237.19.

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

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio is 25.03%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RMD shares. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. The Goldman Sachs Group started coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $244.73.

Institutional Investors Weigh In On ResMed

A number of hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ResMed by 30.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock valued at $982,000 after purchasing an additional 1,208 shares during the last quarter. Cetera Investment Advisers boosted its stake in ResMed by 26.8% in the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock valued at $1,861,000 after acquiring an additional 2,053 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in ResMed during the 2nd quarter worth $1,162,000. Handelsbanken Fonder AB grew its holdings in ResMed by 4.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 81,554 shares of the medical equipment provider’s stock worth $19,909,000 after acquiring an additional 3,171 shares during the period. Finally, Czech National Bank raised its position in shares of ResMed by 6.9% during the 3rd quarter. Czech National Bank now owns 29,931 shares of the medical equipment provider’s stock valued at $7,307,000 after acquiring an additional 1,936 shares during the last quarter. Institutional investors 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.