ResMed Inc. (NYSE:RMD - Get Free Report) insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
ResMed Trading Up 3.3 %
Shares of ResMed stock traded up $7.37 during trading on Friday, hitting $232.40. The company's stock had a trading volume of 908,219 shares, compared to its average volume of 969,711. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a market cap of $34.13 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The stock has a 50-day moving average price of $236.70 and a two-hundred day moving average price of $239.81.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. ResMed's dividend payout ratio (DPR) is currently 25.03%.
Wall Street Analyst Weigh In
RMD has been the subject of several research analyst reports. StockNews.com downgraded shares of ResMed from a "buy" rating to a "hold" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Piper Sandler boosted their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $243.82.
Read Our Latest Stock Report on RMD
Institutional Trading of ResMed
Institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after acquiring an additional 439 shares during the last quarter. Peak Financial Advisors LLC bought a new stake in ResMed during the fourth quarter valued at $2,972,000. Principal Financial Group Inc. boosted its position in ResMed by 2.9% during the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after acquiring an additional 5,284 shares during the last quarter. Spire Wealth Management boosted its position in ResMed by 11.3% during the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after acquiring an additional 1,629 shares during the last quarter. Institutional investors own 54.98% of the company's stock.
ResMed Company Profile
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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.
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