ResMed (NYSE:RMD) General Counsel Michael Rider Sells 50 Shares

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 50 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $241.75, for a total transaction of $12,087.50. Following the sale, the general counsel owned 9,741 shares of the company’s stock, valued at $2,354,886.75. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Price Performance

RMD stock traded up $0.55 during midday trading on Monday, reaching $245.36. 438,026 shares of the stock were exchanged, compared to its average volume of 688,710. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a fifty day moving average price of $248.89 and a 200 day moving average price of $263.43. The stock has a market capitalization of $35.81 billion, a PE ratio of 25.12, a P/E/G ratio of 1.65 and a beta of 0.88.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $2.20 EPS. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is currently 24.56%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RMD. Wells Fargo & Company started coverage on shares of ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target for the company. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. Robert W. Baird restated a “neutral” rating and set a $275.00 price objective (down previously from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. Citigroup assumed coverage on ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price objective for the company. Finally, UBS Group reissued a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $296.09.

Institutional Investors Weigh In On ResMed

Large investors have recently modified their holdings of the company. Entropy Technologies LP lifted its stake in ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after purchasing an additional 10,708 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after buying an additional 25,810 shares in the last quarter. American Century Companies Inc. raised its stake in ResMed by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after buying an additional 1,183 shares during the last quarter. Norges Bank purchased a new position in shares of ResMed in the second quarter worth approximately $306,452,000. Finally, Inspire Investing LLC raised its stake in shares of ResMed by 29.3% in the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after buying an additional 6,472 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.