ResMed Inc. (NYSE:RMD) Director Witte Jan De Sells 2,000 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Witte Jan De sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director now directly owns 5,806 shares of the company’s stock, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ResMed Trading Down 0.1%

NYSE:RMD opened at $245.49 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The firm has a market capitalization of $36.00 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.53 and a beta of 0.78. The business’s 50-day moving average price is $227.42 and its two-hundred day moving average price is $234.36.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. ResMed’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.13 EPS. On average, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed’s payout ratio is presently 23.79%.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider’s stock valued at $164,207,000 after buying an additional 730,510 shares during the period. Invesco Ltd. lifted its holdings in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after acquiring an additional 566,046 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in ResMed by 1,168.5% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 590,895 shares of the medical equipment provider’s stock valued at $132,272,000 after acquiring an additional 544,311 shares during the period. Norges Bank bought a new stake in shares of ResMed in the fourth quarter worth about $118,605,000. Finally, Captrust Financial Advisors raised its position in shares of ResMed by 813.4% during the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock worth $101,387,000 after purchasing an additional 394,803 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Royal Bank of Canada upped their price target on ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research note on Thursday, April 24th. Finally, UBS Group lowered their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $259.33.

ResMed Company Profile

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.