ResMed Inc. (NYSE:RMD) CFO Brett Sandercock Sells 3,000 Shares

ResMed Inc. (NYSE:RMD) CFO Brett Sandercock sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $129.14, for a total transaction of $387,420.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Brett Sandercock also recently made the following trade(s):

  • On Monday, July 1st, Brett Sandercock sold 3,000 shares of ResMed stock. The shares were sold at an average price of $123.17, for a total transaction of $369,510.00.
  • On Thursday, May 30th, Brett Sandercock sold 3,000 shares of ResMed stock. The shares were sold at an average price of $112.34, for a total transaction of $337,020.00.

ResMed stock traded down $1.52 during midday trading on Wednesday, reaching $128.70. 512,918 shares of the company traded hands, compared to its average volume of 841,684. The stock has a market cap of $18.19 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 3.03 and a beta of 0.46. The company’s 50 day simple moving average is $122.99. ResMed Inc. has a 12 month low of $90.64 and a 12 month high of $132.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.06 and a quick ratio of 1.43.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. The company had revenue of $705.00 million for the quarter, compared to the consensus estimate of $701.56 million. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Sell-side analysts forecast that ResMed Inc. will post 3.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a dividend of $0.39 per share. This is an increase from ResMed’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, August 14th. This represents a $1.56 dividend on an annualized basis and a yield of 1.21%. ResMed’s dividend payout ratio is 40.66%.

A number of equities research analysts have recently commented on RMD shares. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and increased their price target for the company from $122.00 to $140.00 in a report on Monday. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a report on Monday, July 8th. Goldman Sachs Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a report on Thursday, April 18th. Finally, ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $121.50.

A number of institutional investors have recently modified their holdings of the stock. First Trust Advisors LP raised its position in shares of ResMed by 26.8% during the 1st quarter. First Trust Advisors LP now owns 478,422 shares of the medical equipment provider’s stock valued at $49,742,000 after purchasing an additional 101,152 shares during the period. LaFleur & Godfrey LLC grew its position in ResMed by 2.5% during the 1st quarter. LaFleur & Godfrey LLC now owns 60,651 shares of the medical equipment provider’s stock worth $6,306,000 after purchasing an additional 1,501 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in ResMed during the 1st quarter worth approximately $1,807,000. Envestnet Asset Management Inc. grew its position in ResMed by 200.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 210,615 shares of the medical equipment provider’s stock worth $21,898,000 after purchasing an additional 140,418 shares during the last quarter. Finally, First Mercantile Trust Co. grew its position in ResMed by 55.3% during the 1st quarter. First Mercantile Trust Co. now owns 7,411 shares of the medical equipment provider’s stock worth $771,000 after purchasing an additional 2,640 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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