Insider Selling: ResMed Inc. (NYSE:RMD) General Counsel Sells $14,263.04 in Stock

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $222.86, for a total value of $14,263.04. Following the sale, the general counsel now owns 8,846 shares of the company’s stock, valued at $1,971,419.56. This trade represents a 0.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ResMed Price Performance

ResMed stock opened at $204.72 on Friday. The firm has a market capitalization of $30.07 billion, a PE ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm’s 50-day simple moving average is $230.74 and its 200 day simple moving average is $236.95. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.04%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Institutional Trading of ResMed

A number of large investors have recently made changes to their positions in RMD. Colonial Trust Co SC lifted its holdings in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of ResMed during the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. boosted its position in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. OFI Invest Asset Management purchased a new stake in ResMed in the 4th quarter worth approximately $39,000. Finally, Coppell Advisory Solutions LLC raised its holdings in ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $249.73.

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.