John Hernandez Sells 2,575 Shares of ResMed (NYSE:RMD) Stock

Key Points

• John Hernandez, a director at ResMed Inc., sold 2,575 shares of stock at an average price of $287.10, totaling approximately $739,282.50, which reduced his holdings by 38.90%.
• ResMed recently declared a quarterly dividend of $0.60 per share, up from the previous $0.53, with a yield of 0.8%.
• The company reported quarterly earnings of $2.55 EPS, exceeding analysts' estimates of $2.47, and showed a 10.2% year-over-year revenue growth.

ResMed Inc. (NYSE:RMD - Get Free Report) Director John Hernandez sold 2,575 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the sale, the director owned 4,045 shares of the company's stock, valued at $1,161,319.50. This represents a 38.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Stock Down 0.6%

Shares of ResMed stock traded down $1.7130 during trading on Tuesday, hitting $284.4070. 353,963 shares of the stock were exchanged, compared to its average volume of 996,073. The firm's 50-day moving average price is $264.88 and its 200 day moving average price is $243.23. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The stock has a market cap of $41.64 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same period in the previous year, the business posted $2.08 earnings per share. ResMed's quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.8%. This is a positive change from ResMed's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Wednesday, August 13th. ResMed's dividend payout ratio (DPR) is currently 25.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RMD. WFA of San Diego LLC bought a new stake in ResMed during the 2nd quarter valued at approximately $26,000. Global X Japan Co. Ltd. raised its position in ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC increased 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 valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. acquired a new stake in shares of ResMed in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC grew its stake in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

RMD has been the topic of several analyst reports. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Royal Bank Of Canada lifted their target price on ResMed from $294.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Piper Sandler lifted their target price on ResMed from $248.00 to $270.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. William Blair raised ResMed to a "strong-buy" rating in a research note on Friday, August 1st. Finally, UBS Group lifted their target price on ResMed from $285.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $274.83.

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.

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