Kaushik Ghoshal Sells 5,000 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ResMed Stock Performance

RMD opened at $248.93 on Friday. The firm has a market cap of $36.58 billion, a P/E ratio of 38.24, a PEG ratio of 2.51 and a beta of 0.69. ResMed Inc. has a 1-year low of $132.24 and a 1-year high of $255.18. The company has a 50 day simple moving average of $221.95 and a two-hundred day simple moving average of $207.01. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.60 earnings per share. Equities analysts forecast that ResMed Inc. will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be given a $0.53 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Thursday, August 15th. ResMed’s dividend payout ratio is presently 32.57%.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after acquiring an additional 35,273 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ResMed by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after acquiring an additional 40,605 shares during the last quarter. Mediolanum International Funds Ltd bought a new position in shares of ResMed during the first quarter worth $2,246,000. Janney Montgomery Scott LLC boosted its position in shares of ResMed by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after acquiring an additional 4,075 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after acquiring an additional 485,540 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of several research reports. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC cut shares of ResMed from a “buy” rating to a “hold” rating and set a $236.00 price objective for the company. in a report on Wednesday, September 4th. Royal Bank of Canada boosted their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. Finally, KeyCorp upped their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Hold” and an average target price of $204.70.

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.