ResMed Inc. (NYSE:RMD) CFO Brett Sandercock Sells 1,000 Shares

ResMed Inc. (NYSE:RMD) CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the sale, the chief financial officer now owns 95,812 shares of the company’s stock, valued at approximately $22,369,227.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Brett Sandercock also recently made the following trade(s):

• On Monday, September 9th, Brett Sandercock sold 1,000 shares of ResMed stock. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00.
• On Thursday, August 8th, Brett Sandercock sold 1,000 shares of ResMed stock. The shares were sold at an average price of $212.16, for a total value of $212,160.00.

ResMed Price Performance

Shares of NYSE:RMD traded up $0.98 during midday trading on Wednesday, hitting $237.04. The company had a trading volume of 749,119 shares, compared to its average volume of 1,042,318. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18. The stock has a market cap of $34.82 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The business’s 50-day simple moving average is $235.07 and its 200-day simple moving average is $213.68.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, research analysts predict that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio is currently 32.57%.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently made changes to their positions in the stock. Tobam raised its position in ResMed by 37.2% in the 3rd quarter. Tobam now owns 6,379 shares of the medical equipment provider’s stock valued at $1,557,000 after purchasing an additional 1,728 shares in the last quarter. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 47 shares in the last quarter. Wedmont Private Capital increased its holdings in ResMed by 9.3% in the third quarter. Wedmont Private Capital now owns 1,980 shares of the medical equipment provider’s stock valued at $460,000 after buying an additional 169 shares during the last quarter. CWM LLC raised its stake in ResMed by 38.4% in the third quarter. CWM LLC now owns 7,899 shares of the medical equipment provider’s stock valued at $1,928,000 after buying an additional 2,192 shares in the last quarter. Finally, FCF Advisors LLC acquired a new position in shares of ResMed during the 3rd quarter worth about $1,772,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RMD shares. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada lifted their target price on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a report on Tuesday, October 1st. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America increased their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

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.