Insider Selling: ResMed Inc. (NYSE:RMD) General Counsel Sells $16,698.00 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 69 shares of ResMed stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $242.00, for a total value of $16,698.00. Following the completion of the transaction, the general counsel now owns 10,443 shares of the company’s stock, valued at $2,527,206. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ResMed Trading Up 1.4 %

NYSE:RMD opened at $248.42 on Friday. The firm has a market cap of $36.47 billion, a P/E ratio of 32.90, a PEG ratio of 1.78 and a beta of 0.69. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock’s 50 day simple moving average is $243.12 and its 200-day simple moving average is $221.39. ResMed Inc. has a 12-month low of $140.81 and a 12-month high of $260.49.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.22 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of ResMed by 2.0% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 57,455 shares of the medical equipment provider’s stock valued at $14,026,000 after purchasing an additional 1,111 shares during the period. Meeder Asset Management Inc. boosted its stake in shares of ResMed by 7,381.4% in the third quarter. Meeder Asset Management Inc. now owns 3,217 shares of the medical equipment provider’s stock valued at $785,000 after buying an additional 3,174 shares in the last quarter. Caprock Group LLC boosted its stake in shares of ResMed by 95.9% in the third quarter. Caprock Group LLC now owns 5,732 shares of the medical equipment provider’s stock valued at $1,399,000 after buying an additional 2,806 shares in the last quarter. Mawer Investment Management Ltd. boosted its stake in shares of ResMed by 3.2% in the third quarter. Mawer Investment Management Ltd. now owns 76,554 shares of the medical equipment provider’s stock valued at $18,688,000 after buying an additional 2,394 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of ResMed by 472.5% in the third quarter. Quest Partners LLC now owns 1,872 shares of the medical equipment provider’s stock valued at $457,000 after buying an additional 1,545 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Robert W. Baird boosted their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Friday, October 25th. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $225.70.

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.