Witte Jan De Sells 360 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) Director Witte Jan De sold 360 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

ResMed Stock Performance

RMD stock traded down $1.40 during mid-day trading on Friday, reaching $218.57. The company had a trading volume of 450,553 shares, compared to its average volume of 1,198,189. The stock’s 50-day simple moving average is $197.71 and its two-hundred day simple moving average is $179.80. The stock has a market capitalization of $32.11 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.70 and a beta of 0.64. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed Inc. has a one year low of $132.24 and a one year high of $229.97.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.68 EPS. Research analysts anticipate that ResMed Inc. will post 7.64 EPS for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of ResMed during the 4th quarter valued at $27,000. Hall Laurie J Trustee bought a new stake in ResMed in the first quarter worth about $32,000. BOK Financial Private Wealth Inc. acquired a new position in shares of ResMed in the 1st quarter worth approximately $35,000. EverSource Wealth Advisors LLC grew its stake in shares of ResMed by 224.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 128 shares during the last quarter. Finally, Planned Solutions Inc. bought a new stake in shares of ResMed in the 4th quarter worth approximately $34,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on RMD. Royal Bank of Canada increased their target price on ResMed from $187.00 to $200.00 and gave the company a “sector perform” rating in a research note on Friday, April 26th. UBS Group boosted their target price on shares of ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Mizuho reiterated a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Needham & Company LLC lifted their target price on ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.80.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.