Justin Leong Sells 6,160 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ResMed Trading Up 0.2 %

ResMed stock opened at $249.99 on Wednesday. The firm has a market cap of $36.70 billion, a PE ratio of 33.11, a P/E/G ratio of 1.77 and a beta of 0.69. ResMed Inc. has a 12 month low of $151.95 and a 12 month high of $260.49. The stock’s 50 day simple moving average is $241.80 and its two-hundred day simple moving average is $225.04. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.64 earnings per share. Analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.85%. ResMed’s dividend payout ratio is presently 28.08%.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently bought and sold shares of RMD. Tidal Investments LLC increased its position in shares of ResMed by 738.4% in the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock valued at $25,617,000 after buying an additional 92,422 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in ResMed in the 3rd quarter worth $193,000. World Investment Advisors LLC acquired a new position in ResMed during the third quarter worth $541,000. Sanctuary Advisors LLC raised its position in ResMed by 19.7% during the third quarter. Sanctuary Advisors LLC now owns 7,265 shares of the medical equipment provider’s stock worth $1,771,000 after acquiring an additional 1,197 shares during the period. Finally, SkyView Investment Advisors LLC lifted its holdings in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Royal Bank of Canada upped their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

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.