Michael J. Rider Sells 69 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD - Get Free Report) General Counsel Michael J. Rider sold 69 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $242.00, for a total value of $16,698.00. Following the sale, the general counsel now owns 10,443 shares of the company's stock, valued at approximately $2,527,206. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ResMed Stock Performance

NYSE:RMD traded up $2.13 during mid-day trading on Tuesday, hitting $245.74. The stock had a trading volume of 1,013,357 shares, compared to its average volume of 1,053,802. 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 company has a 50 day simple moving average of $242.99 and a 200-day simple moving average of $220.75. The stock has a market capitalization of $36.07 billion, a price-to-earnings ratio of 32.27, a P/E/G ratio of 1.79 and a beta of 0.69. ResMed Inc. has a 52 week low of $140.81 and a 52 week high of $260.49.

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

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders 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 0.86%. ResMed's payout ratio is 28.08%.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider's stock valued at $35,068,000 after acquiring an additional 35,273 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in ResMed during the first quarter worth approximately $2,246,000. State Board of Administration of Florida Retirement System raised its holdings in ResMed by 8.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider's stock worth $37,586,000 after purchasing an additional 13,894 shares in the last quarter. SG Americas Securities LLC raised its holdings in ResMed by 211.1% during the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider's stock worth $3,886,000 after purchasing an additional 13,316 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new stake in ResMed during the first quarter worth approximately $3,055,000. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent analyst reports. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report on Friday, October 25th. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Robert W. Baird boosted their price objective on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada boosted their price target on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.