ResMed Inc. (NYSE:RMD) Director Karen Drexler Sells 425 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Karen Drexler sold 425 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the completion of the sale, the director now owns 8,446 shares in the company, valued at approximately $1,815,214.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Stock Performance

ResMed stock opened at $214.04 on Wednesday. The stock has a 50-day simple moving average of $188.47 and a 200 day simple moving average of $173.40. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $240.09. The stock has a market capitalization of $31.48 billion, a price-to-earnings ratio of 32.88, a P/E/G ratio of 2.65 and a beta of 0.67.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the business posted $1.68 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts anticipate that ResMed Inc. will post 7.52 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, June 13th. Investors of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio is 29.49%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMD. Handelsbanken Fonder AB increased its position in ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after purchasing an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in ResMed by 13.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock valued at $7,781,000 after buying an additional 5,517 shares during the period. Vaughan David Investments LLC IL bought a new position in ResMed in the fourth quarter valued at approximately $29,322,000. International Assets Investment Management LLC grew its holdings in ResMed by 11,960.3% during the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after acquiring an additional 22,007 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of ResMed by 33.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 72,893 shares of the medical equipment provider’s stock valued at $12,539,000 after purchasing an additional 18,368 shares during the period. 54.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RMD has been the topic of several research analyst reports. Oppenheimer lowered their price objective on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada raised their target price on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. UBS Group raised their target price on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. raised their target price on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Finally, Mizuho reaffirmed a “buy” rating and issued a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and an average price target of $202.80.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.