Witte Jan De Sells 487 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) Director Witte Jan De sold 487 shares of ResMed stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $250.25, for a total value of $121,871.75. Following the completion of the sale, the director owned 5,319 shares in the company, valued at approximately $1,331,079.75. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

ResMed Price Performance

Shares of ResMed stock opened at $244.74 on Friday. The business has a 50 day moving average of $266.27 and a 200 day moving average of $262.80. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a market cap of $35.72 billion, a PE ratio of 25.73, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.20 earnings per share. As a group, equities research analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s payout ratio is presently 24.56%.

Institutional Trading of ResMed

A number of hedge funds have recently made changes to their positions in RMD. Vanguard Group Inc. raised its stake in ResMed by 1.6% during the third quarter. Vanguard Group Inc. now owns 19,040,440 shares of the medical equipment provider’s stock valued at $5,211,940,000 after buying an additional 293,515 shares during the last quarter. State Street Corp increased its holdings in shares of ResMed by 1.0% during the second quarter. State Street Corp now owns 6,615,852 shares of the medical equipment provider’s stock valued at $1,706,890,000 after acquiring an additional 64,448 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock worth $1,083,409,000 after purchasing an additional 98,717 shares during the last quarter. Northern Trust Corp raised its position in shares of ResMed by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock worth $390,516,000 after purchasing an additional 41,951 shares during the last quarter. Finally, Norges Bank bought a new position in ResMed in the 2nd quarter worth about $306,452,000. 54.98% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research reports. Wells Fargo & Company assumed coverage on shares of ResMed in a research note on Monday, October 13th. They issued an “equal weight” rating and a $280.00 price target for the company. Citigroup assumed coverage on ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price on the stock. Stifel Nicolaus increased their target price on ResMed from $240.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 1st. Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada upped their price target on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.45.

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.