Michael J. Rider Sells 64 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $222.86, for a total transaction of $14,263.04. Following the sale, the general counsel now directly owns 8,846 shares of the company’s stock, valued at approximately $1,971,419.56. This trade represents a 0.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Price Performance

RMD stock opened at $204.72 on Friday. The stock has a market cap of $30.07 billion, a PE ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a 50-day moving average price of $230.74 and a 200 day moving average price of $237.04. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.04%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its stake in ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after buying an additional 566,046 shares during the period. Norges Bank purchased a new stake in shares of ResMed in the fourth quarter valued at approximately $118,605,000. Captrust Financial Advisors grew its stake in ResMed by 813.4% in the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock worth $101,387,000 after purchasing an additional 394,803 shares in the last quarter. Geode Capital Management LLC increased its holdings in 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 worth $939,114,000 after purchasing an additional 380,383 shares during the period. Finally, AQR Capital Management LLC raised its position in ResMed by 133.6% during the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock valued at $142,944,000 after purchasing an additional 357,466 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RMD. Stifel Nicolaus reduced their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

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.