ResMed (NYSE:RMD) General Counsel Sells $12,087.50 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 50 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $241.75, for a total transaction of $12,087.50. Following the completion of the transaction, the general counsel directly owned 9,741 shares of the company’s stock, valued at approximately $2,354,886.75. The trade was a 0.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ResMed Trading Up 0.2%

RMD traded up $0.55 on Monday, reaching $245.36. 438,026 shares of the company traded hands, compared to its average volume of 688,710. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The company has a market cap of $35.81 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 1.65 and a beta of 0.88. The firm has a fifty day simple moving average of $248.89 and a two-hundred day simple moving average of $263.43. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07.

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

ResMed Dividend Announcement

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

Hedge Funds Weigh In On ResMed

Several hedge funds have recently made changes to their positions in the company. Entropy Technologies LP grew its holdings in shares of ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after buying an additional 10,708 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after purchasing an additional 25,810 shares in the last quarter. American Century Companies Inc. lifted its position in shares of ResMed by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after acquiring an additional 1,183 shares during the period. Norges Bank acquired a new position in ResMed during the second quarter worth $306,452,000. Finally, Inspire Investing LLC boosted its position in shares of ResMed by 29.3% in the 1st quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock worth $6,397,000 after buying an additional 6,472 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RMD shares. Robert W. Baird restated a “neutral” rating and set a $275.00 price target (down previously from $300.00) on shares of ResMed in a research report on Tuesday, December 16th. UBS Group restated a “buy” rating and set a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Stifel Nicolaus dropped their price target on ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Wells Fargo & Company assumed coverage on shares of ResMed in a research report on Monday, October 13th. They set an “equal weight” rating and a $280.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average 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.