ResMed Inc. (NYSE:RMD) General Counsel Sells $16,698.00 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 69 shares of ResMed stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $242.00, for a total value of $16,698.00. Following the completion of the sale, the general counsel now owns 10,443 shares in the company, valued at approximately $2,527,206. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ResMed Stock Up 0.5 %

ResMed stock traded up $1.32 during mid-day trading on Tuesday, hitting $244.93. The company had a trading volume of 350,086 shares, compared to its average volume of 1,050,398. The stock has a market cap of $35.96 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 1.79 and a beta of 0.69. ResMed Inc. has a 1 year low of $140.81 and a 1 year 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 business has a fifty day moving average of $242.99 and a 200 day moving average of $220.75.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period last year, the company earned $1.64 earnings per share. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that ResMed Inc. will post 9.22 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s dividend payout ratio is presently 28.08%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Wolfe Research reissued an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Baird R W raised ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. KeyCorp boosted their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.70.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in ResMed by 4.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 345,542 shares of the medical equipment provider’s stock worth $84,354,000 after buying an additional 14,465 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of ResMed by 17.5% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,452 shares of the medical equipment provider’s stock valued at $4,749,000 after purchasing an additional 2,891 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of ResMed in the 3rd quarter valued at about $410,000. Entropy Technologies LP acquired a new position in shares of ResMed in the 3rd quarter valued at about $1,872,000. Finally, Apollon Wealth Management LLC lifted its stake in shares of ResMed by 15.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,451 shares of the medical equipment provider’s stock valued at $354,000 after purchasing an additional 190 shares in the last quarter. Hedge funds and other 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.