Insider Selling: ResMed Inc. (NYSE:RMD) Insider Sells 6,160 Shares of Stock

ResMed Inc. (NYSE:RMD) insider Justin Leong sold 6,160 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

ResMed Trading Up 2.4 %

RMD opened at $249.68 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market capitalization of $36.65 billion, a price-to-earnings ratio of 33.07, a PEG ratio of 1.77 and a beta of 0.69. The business has a fifty day moving average price of $241.82 and a 200 day moving average price of $224.79. ResMed Inc. has a 12 month low of $151.95 and a 12 month high of $260.49.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed’s payout ratio is 28.08%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RMD. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.70.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC raised its stake in ResMed by 738.4% in the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock valued at $25,617,000 after buying an additional 92,422 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in ResMed during the third quarter worth approximately $193,000. World Investment Advisors LLC acquired a new position in ResMed in the third quarter valued at approximately $541,000. Sanctuary Advisors LLC increased its stake in ResMed by 19.7% in the third quarter. Sanctuary Advisors LLC now owns 7,265 shares of the medical equipment provider’s stock valued at $1,771,000 after purchasing an additional 1,197 shares during the last quarter. Finally, SkyView Investment Advisors LLC raised its holdings in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.