ResMed Inc. (NYSE:RMD) Director Karen Drexler Sells 425 Shares

ResMed Inc. (NYSE:RMD) Director Karen Drexler sold 425 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $214.92, for a total value of $91,341.00. Following the sale, the director now owns 8,446 shares of the company’s stock, valued at $1,815,214.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

ResMed Trading Down 1.5 %

Shares of NYSE RMD traded down $3.20 during trading on Tuesday, reaching $213.99. The stock had a trading volume of 1,590,735 shares, compared to its average volume of 1,069,504. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The company has a market cap of $31.48 billion, a P/E ratio of 33.34, a PEG ratio of 2.65 and a beta of 0.67. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $240.09. The business’s 50-day moving average price is $187.80 and its 200-day moving average price is $172.88.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. ResMed’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.68 EPS. On average, equities research analysts predict that ResMed Inc. will post 7.52 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Institutional Trading of ResMed

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of ResMed by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after buying an additional 173,635 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in ResMed by 230.3% in the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider’s stock valued at $755,112,000 after acquiring an additional 2,658,709 shares in the last quarter. Morgan Stanley lifted its stake in ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. Norges Bank acquired a new position in ResMed during the 4th quarter worth approximately $233,966,000. Finally, abrdn plc grew its holdings in ResMed by 79.2% during the 3rd quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after acquiring an additional 398,302 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RMD shares. UBS Group upped their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Royal Bank of Canada upped their price objective on shares of ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday. Needham & Company LLC raised their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research note on Friday. KeyCorp upped their price target on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Mizuho reiterated a “buy” rating and set a $215.00 price objective on shares of ResMed in a research report on Wednesday, March 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $202.80.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.