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

ResMed Inc. (NYSE:RMD) insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Performance

Shares of NYSE: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. ResMed Inc. has a 1 year low of $151.95 and a 1 year high of $260.49. The firm has a market capitalization of $36.65 billion, a PE ratio of 33.07, a P/E/G ratio of 1.77 and a beta of 0.69. The business’s 50 day moving average price is $241.82 and its 200-day moving average price is $224.79.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, equities research analysts expect that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

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

Institutional Trading of ResMed

Hedge funds have recently bought and sold shares of the business. Bessemer Group Inc. lifted its position in ResMed by 14.7% during the first quarter. Bessemer Group Inc. now owns 1,725 shares of the medical equipment provider’s stock worth $342,000 after buying an additional 221 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of ResMed by 2.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 416,761 shares of the medical equipment provider’s stock valued at $82,532,000 after purchasing an additional 11,908 shares during the period. Mount Yale Investment Advisors LLC increased its position in ResMed by 2.8% during the first quarter. Mount Yale Investment Advisors LLC now owns 3,662 shares of the medical equipment provider’s stock worth $725,000 after purchasing an additional 99 shares during the last quarter. Bayesian Capital Management LP raised its stake in ResMed by 110.2% during the first quarter. Bayesian Capital Management LP now owns 8,965 shares of the medical equipment provider’s stock worth $1,775,000 after purchasing an additional 4,700 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in ResMed by 4.8% in the 1st quarter. Janus Henderson Group PLC now owns 19,516 shares of the medical equipment provider’s stock valued at $3,865,000 after purchasing an additional 902 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on RMD shares. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Finally, Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.70.

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.