Kaushik Ghoshal Sells 9,113 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ResMed Price Performance

Shares of RMD traded down $1.79 on Tuesday, reaching $231.31. The stock had a trading volume of 801,068 shares, compared to its average volume of 969,842. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The firm has a market capitalization of $33.97 billion, a PE ratio of 27.31, a PEG ratio of 1.53 and a beta of 0.70. The firm has a 50-day moving average of $237.10 and a 200 day moving average of $239.99. 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 (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%. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

Institutional Trading of ResMed

Several large investors have recently modified their holdings of RMD. Wealth Enhancement Advisory Services LLC raised its position in shares of ResMed by 35.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,271 shares of the medical equipment provider’s stock worth $1,775,000 after purchasing an additional 1,893 shares during the last quarter. Janney Montgomery Scott LLC increased its position in ResMed by 1.0% during the third quarter. Janney Montgomery Scott LLC now owns 85,507 shares of the medical equipment provider’s stock worth $20,874,000 after buying an additional 811 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of ResMed by 2.9% in the third quarter. Van ECK Associates Corp now owns 39,334 shares of the medical equipment provider’s stock worth $9,338,000 after acquiring an additional 1,121 shares during the last quarter. Angeles Wealth Management LLC acquired a new position in shares of ResMed in the third quarter worth $274,000. Finally, National Pension Service lifted its position in shares of ResMed by 5.0% in the third quarter. National Pension Service now owns 227,655 shares of the medical equipment provider’s stock valued at $55,575,000 after acquiring an additional 10,880 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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.