Insider Selling: ResMed Inc. (NYSE:RMD) Insider Sells 4,260 Shares of Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 4,260 shares of the firm’s stock in a transaction that occurred on 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 $5,196,002.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00.

ResMed Stock Performance

NYSE RMD traded up $1.70 on Tuesday, hitting $242.41. 92,513 shares of the stock traded hands, compared to its average volume of 1,031,172. The firm has a market capitalization of $35.61 billion, a price-to-earnings ratio of 36.98, a PEG ratio of 2.14 and a beta of 0.69. The business’s fifty day moving average is $236.85 and its two-hundred day moving average is $214.91. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18.

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

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a dividend of $0.53 per share. 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 0.87%. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio is presently 32.57%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Wolfe Research reissued an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Robert W. Baird began coverage on ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target for the company. Finally, Bank of America raised their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RMD. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after purchasing an additional 35,273 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of ResMed in the first quarter worth about $2,246,000. Janney Montgomery Scott LLC boosted its position in shares of ResMed by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after acquiring an additional 4,075 shares during the period. Los Angeles Capital Management LLC grew its stake in 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 valued at $98,823,000 after acquiring an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in ResMed in the 4th quarter worth approximately $7,535,000. 54.98% of the stock is owned by institutional investors.

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.