ResMed Inc. (NYSE:RMD) Insider Sells $2,145,200.20 in Stock

ResMed Inc. (NYSE:RMD) insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the transaction, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ResMed Stock Down 0.8 %

Shares of NYSE:RMD traded down $1.79 during trading on Tuesday, hitting $231.31. 801,068 shares of the company were exchanged, compared to its average volume of 969,842. The firm’s 50 day moving average price is $237.10 and its 200-day moving average price is $239.99. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $33.97 billion, a P/E ratio of 27.31, a PEG ratio of 1.53 and a beta of 0.70.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RMD. Piper Sandler lifted their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Colonial Trust Co SC raised its position in ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in ResMed during the 3rd quarter worth $34,000. Optiver Holding B.V. purchased a new position in ResMed during the 4th quarter worth $33,000. Finally, Itau Unibanco Holding S.A. grew its position in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

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.