ResMed Inc. (NYSE:RMD) Insider Justin Leong Sells 3,777 Shares

ResMed Inc. (NYSE:RMDGet Rating) insider Justin Leong sold 3,777 shares of the business’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $229.50, for a total value of $866,821.50. Following the transaction, the insider now owns 59,817 shares of the company’s stock, valued at $13,728,001.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

ResMed Stock Down 0.1 %

NYSE RMD opened at $229.34 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.69 and a current ratio of 2.94. The company has a market capitalization of $33.59 billion, a P/E ratio of 42.87, a P/E/G ratio of 1.48 and a beta of 0.47. ResMed Inc. has a one year low of $189.40 and a one year high of $268.77. The stock has a 50 day moving average price of $220.58 and a 200-day moving average price of $218.87.

ResMed (NYSE:RMDGet Rating) last posted its earnings results on Thursday, October 27th. The medical equipment provider reported $1.51 EPS for the quarter, meeting analysts’ consensus estimates of $1.51. ResMed had a return on equity of 25.75% and a net margin of 21.70%. The firm had revenue of $950.30 million during the quarter, compared to the consensus estimate of $946.07 million. During the same period in the prior year, the company earned $1.51 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 6.48 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 10th will be issued a dividend of $0.44 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.76 annualized dividend and a yield of 0.77%. ResMed’s payout ratio is presently 32.90%.

Institutional Trading of ResMed

Several hedge funds and other institutional investors have recently bought and sold shares of RMD. Capital World Investors raised its holdings in ResMed by 24.3% during the 1st quarter. Capital World Investors now owns 4,470,998 shares of the medical equipment provider’s stock valued at $1,084,262,000 after buying an additional 875,001 shares during the period. FMR LLC raised its holdings in ResMed by 7.7% during the 2nd quarter. FMR LLC now owns 7,519,624 shares of the medical equipment provider’s stock valued at $1,576,339,000 after buying an additional 535,742 shares during the period. JPMorgan Chase & Co. raised its holdings in ResMed by 48.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,173,994 shares of the medical equipment provider’s stock valued at $284,705,000 after buying an additional 380,645 shares during the period. BlackRock Inc. raised its holdings in ResMed by 2.4% during the 1st quarter. BlackRock Inc. now owns 13,359,715 shares of the medical equipment provider’s stock valued at $3,239,867,000 after buying an additional 310,980 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in ResMed by 245.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 397,861 shares of the medical equipment provider’s stock valued at $86,853,000 after buying an additional 282,613 shares during the period. Hedge funds and other institutional investors own 65.50% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of several recent analyst reports. Bank of America upgraded ResMed from a “neutral” rating to a “buy” rating and upped their price target for the stock from $245.00 to $260.00 in a research note on Thursday, October 20th. Jefferies Financial Group initiated coverage on ResMed in a research note on Wednesday, October 12th. They issued a “hold” rating and a $245.00 price target for the company. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. JPMorgan Chase & Co. downgraded ResMed from an “overweight” rating to a “neutral” rating in a research note on Friday, August 12th. Finally, KeyCorp upped their price target on ResMed from $276.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $267.00.

ResMed Company Profile

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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 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.

Further Reading

Insider Buying and Selling by Quarter for ResMed (NYSE:RMD)

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