Insider Selling: ResMed Inc. (NYSE:RMD) General Counsel Sells 64 Shares of Stock

ResMed Inc. (NYSE:RMD - Get Free Report) General Counsel Michael J. Rider sold 64 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $242.42, for a total value of $15,514.88. Following the completion of the sale, the general counsel now directly owns 8,974 shares of the company's stock, valued at $2,175,477.08. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

ResMed Trading Down 0.1 %

Shares of RMD traded down $0.34 during mid-day trading on Friday, hitting $236.84. The company had a trading volume of 830,561 shares, compared to its average volume of 1,059,213. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The business's 50-day simple moving average is $239.18 and its 200-day simple moving average is $237.39. The stock has a market cap of $34.78 billion, a PE ratio of 27.96, a P/E/G ratio of 1.57 and a beta of 0.70. 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 - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Sell-side analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed's payout ratio is 25.03%.

Analysts Set New Price Targets

RMD has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research note on Friday, October 25th. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They issued a "hold" rating and a $250.00 price target for the company. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.73.

Institutional Investors Weigh In On ResMed

Institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of ResMed by 1.9% during the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after acquiring an additional 116,918 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after buying an additional 32,973 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of ResMed by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after buying an additional 2,406 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 60.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after buying an additional 250,746 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.