ResMed Inc. (NYSE:RMD) Insider Kaushik Ghoshal Sells 4,260 Shares

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Kaushik Ghoshal also recently made the following trade(s):

• On Thursday, September 12th, Kaushik Ghoshal sold 5,000 shares of ResMed stock. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00.

ResMed Price Performance

RMD opened at $238.46 on Thursday. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 36.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.69. The stock has a fifty day simple moving average of $237.80 and a two-hundred day simple moving average of $215.36. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $255.18.

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

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. This is an increase from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new position in shares of ResMed in the 2nd quarter worth about $32,000. BOK Financial Private Wealth Inc. purchased a new position in ResMed in the first quarter worth about $35,000. Versant Capital Management Inc lifted its stake in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new stake in shares of ResMed during the second quarter valued at approximately $37,000. Finally, Riverview Trust Co bought a new stake in shares of ResMed during the first quarter valued at approximately $42,000. 54.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RMD. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Tuesday, October 1st. Bank of America boosted their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

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.