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 Tuesday, April 1st. The stock was sold at an average price of $222.86, for a total transaction of $14,263.04. Following the transaction, the general counsel now owns 8,846 shares in the company, valued at $1,971,419.56. This represents a 0.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Down 4.0 %

RMD stock traded down $8.46 during trading on Tuesday, reaching $204.54. 1,511,415 shares of the stock were exchanged, compared to its average volume of 1,011,647. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a twelve month low of $172.19 and a twelve month high of $263.05. The firm's 50 day moving average is $229.90 and its 200 day moving average is $236.73. The firm has a market cap of $30.04 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS 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%. As a group, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

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ResMed Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Colonial Trust Co SC grew its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. bought a new stake in shares of ResMed in the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. lifted its stake in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of ResMed in the fourth quarter valued at $39,000. Finally, Coppell Advisory Solutions LLC lifted its position in shares of ResMed by 1,750.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 175 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus reduced their target price on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Morgan Stanley began coverage on ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, January 31st. Finally, StockNews.com downgraded ResMed from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $249.73.

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.