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

ResMed Inc. (NYSE:RMD) General Counsel Michael J. Rider sold 64 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $222.86, for a total transaction of $14,263.04. Following the completion of the sale, the general counsel now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Performance

Shares of NYSE:RMD traded down $8.86 during trading on Thursday, hitting $214.14. 687,516 shares of the company traded hands, compared to its average volume of 997,820. The stock has a market capitalization of $31.45 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a one year low of $172.19 and a one year high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The business’s fifty day moving average is $232.37 and its 200-day moving average is $237.54.

ResMed (NYSE:RMD) last issued its earnings results 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 return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Hedge Funds Weigh In On ResMed

Several large investors have recently bought and sold shares of RMD. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in ResMed during the fourth quarter valued at approximately $33,000. Itau Unibanco Holding S.A. boosted its holdings 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 buying an additional 150 shares in the last quarter. OFI Invest Asset Management acquired a new position in ResMed in the fourth quarter worth approximately $39,000. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of ResMed by 1,750.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RMD. 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, March 5th. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. One investment 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 stock. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus target price 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.