Witte Jan De Sells 360 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD - Get Free Report) Director Witte Jan De sold 360 shares of the company's stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the completion of the transaction, the director now directly owns 7,519 shares of the company's stock, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ResMed Trading Down 0.6 %

NYSE:RMD traded down $1.40 during mid-day trading on Friday, reaching $218.57. 450,413 shares of the company's stock traded hands, compared to its average volume of 1,039,724. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97. The firm has a market capitalization of $32.11 billion, a price-to-earnings ratio of 33.79, a PEG ratio of 2.71 and a beta of 0.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The company has a 50 day moving average price of $197.11 and a 200-day moving average price of $179.24.

ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.68 EPS. The business's revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that ResMed Inc. will post 7.64 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. ResMed's dividend payout ratio is presently 29.49%.

Institutional Investors Weigh In On ResMed

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its holdings in ResMed by 230.3% in the 1st quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider's stock worth $755,112,000 after buying an additional 2,658,709 shares during the period. Norges Bank bought a new position in ResMed in the fourth quarter worth about $233,966,000. Morgan Stanley lifted its position in shares of ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider's stock valued at $344,481,000 after buying an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. bought a new position in shares of ResMed during the 4th quarter worth approximately $117,621,000. Finally, Los Angeles Capital Management LLC raised its stake in ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider's stock valued at $98,823,000 after buying an additional 485,540 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RMD shares. Needham & Company LLC upped their target price on ResMed from $224.00 to $236.00 and gave the stock a "buy" rating in a report on Friday, April 26th. Mizuho reiterated a "buy" rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. Royal Bank of Canada upped their price target on ResMed from $187.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, April 26th. UBS Group upped their price target on ResMed from $175.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, January 25th. Finally, KeyCorp upped their price target on ResMed from $227.00 to $238.00 and gave the company an "overweight" rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and a consensus 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.