ResMed (NYSE:RMD) General Counsel Michael Rider Sells 100 Shares

Key Points

• ResMed's General Counsel, Michael Rider, sold 100 shares of the company's stock at an average price of $274.36, totaling $27,436, which decreased his ownership by 0.88%.
• ResMed recently increased its quarterly dividend to $0.60 per share, resulting in an annualized dividend of $2.40 and a yield of 0.9%.
• Wall Street analysts have varied ratings on ResMed, with target prices ranging from $270.00 to $330.00, suggesting an overall moderate buy rating for the stock.

ResMed Inc. (NYSE:RMD - Get Free Report) General Counsel Michael Rider sold 100 shares of ResMed stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total transaction of $27,436.00. Following the completion of the transaction, the general counsel owned 11,327 shares in the company, valued at $3,107,675.72. This trade represents a 0.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ResMed Stock Performance

Shares of NYSE:RMD traded up $6.14 during midday trading on Thursday, hitting $276.99. The company's stock had a trading volume of 1,032,131 shares, compared to its average volume of 995,314. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The stock's 50 day simple moving average is $278.03 and its 200 day simple moving average is $252.69. The stock has a market capitalization of $40.55 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 1.84 and a beta of 0.83. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81.

ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%.The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The firm's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th were given a $0.60 dividend. The ex-dividend date was Thursday, August 14th. This represents a $2.40 annualized dividend and a yield of 0.9%. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is 25.24%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RMD shares. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Royal Bank Of Canada raised their target price on ResMed from $294.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Citigroup assumed coverage on shares of ResMed in a report on Thursday, September 18th. They issued a "buy" rating and a $330.00 price target on the stock. CLSA upgraded shares of ResMed from a "hold" rating to an "outperform" rating in a research note on Tuesday, September 2nd. Finally, Stifel Nicolaus lifted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $294.20.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new position in shares of ResMed in the 2nd quarter valued at about $306,452,000. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of ResMed by 1,168.5% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider's stock worth $132,272,000 after buying an additional 544,311 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in ResMed by 334.0% in the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock valued at $101,880,000 after buying an additional 350,245 shares during the period. Swedbank AB boosted its stake in ResMed by 445.1% in the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock valued at $88,940,000 after acquiring an additional 324,428 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in ResMed by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock worth $4,139,815,000 after acquiring an additional 320,240 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

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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