Insider Selling: ResMed (NYSE:RMD) General Counsel Sells 100 Shares of Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $274.36, for a total value of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares in the company, valued at approximately $3,107,675.72. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ResMed Stock Performance

NYSE RMD opened at $276.99 on Friday. The company has a market cap of $40.56 billion, a PE ratio of 29.13, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. The stock’s 50 day simple moving average is $278.10 and its 200-day simple moving average is $253.06. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53.

ResMed (NYSE:RMD) last released its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.08 earnings per share. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. ResMed’s dividend payout ratio (DPR) is 25.24%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RMD shares. William Blair upgraded ResMed to a “strong-buy” rating in a research report on Friday, August 1st. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Mizuho lifted their price objective on ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Finally, CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $294.20.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently bought and sold shares of RMD. Fifth Third Wealth Advisors LLC raised its holdings in ResMed by 9.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,415 shares of the medical equipment provider’s stock valued at $317,000 after buying an additional 117 shares during the period. Peak Financial Advisors LLC raised its holdings in ResMed by 2.1% in the 1st quarter. Peak Financial Advisors LLC now owns 13,271 shares of the medical equipment provider’s stock valued at $2,971,000 after buying an additional 274 shares during the period. Procyon Advisors LLC purchased a new stake in ResMed in the 1st quarter valued at about $207,000. Portside Wealth Group LLC raised its holdings in ResMed by 3.8% in the 1st quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider’s stock valued at $326,000 after buying an additional 54 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in ResMed by 11.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock valued at $693,000 after buying an additional 330 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.