Michael Rider Sells 50 Shares of ResMed (NYSE:RMD) Stock

by · The Markets Daily

ResMed Inc. (NYSE:RMD – Get Free Report) General Counsel Michael Rider sold 50 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $260.00, for a total value of $13,000.00. Following the completion of the sale, the general counsel directly owned 9,691 shares of the company’s stock, valued at approximately $2,519,660. The trade was a 0.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ResMed Trading Up 1.1%

Shares of ResMed stock traded up $2.95 during midday trading on Friday, reaching $270.00. The company had a trading volume of 396,362 shares, compared to its average volume of 1,075,214. The stock has a fifty day moving average price of $251.41 and a 200 day moving average price of $263.33. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The firm has a market cap of $39.33 billion, a PE ratio of 26.71, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32.

ResMed (NYSE:RMD – Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. During the same quarter last year, the business earned $2.43 EPS. The company’s revenue was up 11.0% compared to the same quarter last year. On average, equities analysts anticipate 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, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s payout ratio is presently 23.74%.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp grew its holdings in ResMed by 52.6% during the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after buying an additional 994 shares in the last quarter. Truist Financial Corp lifted its position in shares of ResMed by 1.7% during the 2nd quarter. Truist Financial Corp now owns 10,660 shares of the medical equipment provider’s stock worth $2,750,000 after buying an additional 183 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of ResMed in the second quarter valued at approximately $83,000. Valeo Financial Advisors LLC purchased a new stake in shares of ResMed during the second quarter valued at approximately $232,000. Finally, Maryland State Retirement & Pension System lifted its holdings in ResMed by 4.4% during the second quarter. Maryland State Retirement & Pension System now owns 7,096 shares of the medical equipment provider’s stock worth $1,831,000 after acquiring an additional 299 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RMD. Royal Bank Of Canada lifted their price objective on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $345.00 price target on shares of ResMed in a research note on Friday, December 12th. Piper Sandler raised their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. KeyCorp reiterated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. Finally, Stifel Nicolaus raised their price target on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Check Out Our Latest Stock Analysis on ResMed

ResMed Company Profile

(Get Free Report)

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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