Michael Rider Sells 50 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 50 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $241.75, for a total value of $12,087.50. Following the sale, the general counsel owned 9,741 shares of the company’s stock, valued at approximately $2,354,886.75. This 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 available through the SEC website.

ResMed Stock Performance

ResMed stock opened at $249.32 on Wednesday. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The stock has a market cap of $36.39 billion, a PE ratio of 25.52, a P/E/G ratio of 1.65 and a beta of 0.88. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The business’s 50-day moving average price is $248.46 and its two-hundred day moving average price is $263.36.

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

ResMed Dividend Announcement

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

Institutional Trading of ResMed

Several institutional investors have recently added to or reduced their stakes in RMD. Johnson Investment Counsel Inc. lifted its position in shares of ResMed by 2.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after purchasing an additional 45 shares during the period. Quadcap Wealth Management LLC raised its stake in ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after buying an additional 45 shares during the last quarter. Terra Nova Asset Management LLC lifted its holdings in ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after buying an additional 46 shares during the period. NBT Bank N A NY lifted its holdings in ResMed by 22.9% in the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 47 shares during the period. Finally, OFI Invest Asset Management boosted its position in ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after acquiring an additional 48 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RMD has been the topic of a number of research reports. Stifel Nicolaus reduced their price objective on ResMed from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a report on Monday, December 29th. KeyCorp raised their price objective on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Wells Fargo & Company began coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 target price on the stock. Finally, Mizuho decreased their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.09.

ResMed Company Profile

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.