Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells 425 Shares of Stock

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

ResMed Stock Down 1.5 %

RMD traded down $3.20 on Tuesday, hitting $213.99. The company had a trading volume of 1,590,735 shares, compared to its average volume of 1,069,504. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $240.09. The stock has a fifty day simple moving average of $187.80 and a 200-day simple moving average of $172.88. The firm has a market capitalization of $31.48 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.65 and a beta of 0.67.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the business posted $1.68 earnings per share. ResMed’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts expect that ResMed Inc. will post 7.52 EPS for the current fiscal year.

ResMed Announces Dividend

The firm 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio is 29.49%.

Hedge Funds Weigh In On ResMed

A number of institutional investors and hedge funds have recently made changes to their positions in RMD. Handelsbanken Fonder AB increased its stake in shares of ResMed by 1.1% during the third quarter. Handelsbanken Fonder AB now owns 57,373 shares of the medical equipment provider’s stock valued at $8,484,000 after purchasing an additional 644 shares in the last quarter. Simplicity Solutions LLC increased its stake in shares of ResMed by 41.6% during the third quarter. Simplicity Solutions LLC now owns 2,928 shares of the medical equipment provider’s stock valued at $433,000 after purchasing an additional 860 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of ResMed by 2.8% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 36,217 shares of the medical equipment provider’s stock valued at $5,355,000 after acquiring an additional 1,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in ResMed by 52.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock worth $805,000 after acquiring an additional 1,863 shares during the last quarter. Finally, Xponance Inc. raised its holdings in ResMed by 17.2% in the 3rd quarter. Xponance Inc. now owns 43,375 shares of the medical equipment provider’s stock worth $6,414,000 after acquiring an additional 6,359 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC increased their target price on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a report on Friday. Mizuho reiterated a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. JPMorgan Chase & Co. increased their target price on shares of ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Royal Bank of Canada increased their target price on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday. Finally, UBS Group increased their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $202.80.

About ResMed

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.