ResMed (NYSE:RMD) General Counsel Sells $27,436.00 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael Rider sold 100 shares of ResMed stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at $3,107,675.72. The trade was a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ResMed Stock Up 0.7%

Shares of NYSE:RMD opened at $278.48 on Friday. The company has a 50 day moving average price of $278.16 and a two-hundred day moving average price of $253.68. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The company has a market capitalization of $40.77 billion, a PE ratio of 29.28, a PEG ratio of 1.87 and a beta of 0.83. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 EPS. Analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, August 14th were issued a dividend of $0.60 per share. This is a boost from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s dividend payout ratio (DPR) is presently 25.24%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC boosted its stake in shares of ResMed by 9.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,415 shares of the medical equipment provider’s stock worth $317,000 after buying an additional 117 shares during the last quarter. Peak Financial Advisors LLC raised its holdings in ResMed by 2.1% during the first quarter. Peak Financial Advisors LLC now owns 13,271 shares of the medical equipment provider’s stock worth $2,971,000 after acquiring an additional 274 shares in the last quarter. Procyon Advisors LLC acquired a new position in ResMed during the first quarter valued at approximately $207,000. Portside Wealth Group LLC grew its stake in ResMed by 3.8% in the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider’s stock valued at $326,000 after purchasing an additional 54 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its position in shares of ResMed by 11.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock worth $693,000 after purchasing an additional 330 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Piper Sandler increased their target price on ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Stifel Nicolaus raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ResMed in a research note on Saturday, September 27th. Finally, Mizuho increased their target price on ResMed from $270.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $294.20.

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.