Justin Leong Sells 6,160 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Up 0.8 %

NYSE RMD traded up $1.99 on Monday, hitting $245.77. The stock had a trading volume of 136,926 shares, compared to its average volume of 1,035,138. ResMed Inc. has a 52-week low of $151.95 and a 52-week high of $260.49. The business’s fifty day moving average price is $241.86 and its 200 day moving average price is $224.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 1.77 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. ResMed’s payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on RMD shares. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Bank of America raised their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada lifted their price objective on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Finally, Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new position in ResMed during the third quarter valued at $34,000. OFI Invest Asset Management acquired a new position in ResMed during the second quarter valued at $32,000. Versant Capital Management Inc lifted its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Finally, Financial Connections Group Inc. acquired a new position in ResMed during the second quarter valued at $37,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

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.