ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider Sells 64 Shares

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of ResMed stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $242.42, for a total value of $15,514.88. Following the transaction, the general counsel now owns 8,974 shares in the company, valued at approximately $2,175,477.08. This represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

ResMed Trading Down 2.3 %

Shares of ResMed stock opened at $237.11 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The business has a fifty day simple moving average of $239.68 and a two-hundred day simple moving average of $237.19. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05. The company has a market capitalization of $34.81 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.69 and a beta of 0.70.

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

ResMed Dividend Announcement

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

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently modified their holdings of RMD. State Street Corp raised its position in shares of ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock worth $218,861,000 after purchasing an additional 32,973 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in ResMed by 60.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after purchasing an additional 250,746 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research analyst reports. KeyCorp boosted their price objective on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus started coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, Robert W. Baird increased their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.73.

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.