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

ResMed Inc. (NYSE:RMDGet Free Report) Director Witte Jan De sold 360 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the completion of the transaction, the director now owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Performance

Shares of RMD opened at $218.57 on Friday. The company’s 50 day simple moving average is $197.71 and its 200-day simple moving average is $180.07. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. The firm has a market cap of $32.11 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 2.69 and a beta of 0.64. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $229.97.

ResMed (NYSE:RMDGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 7.64 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, May 8th. ResMed’s payout ratio is currently 29.49%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RMD. Dorsey & Whitney Trust CO LLC grew its holdings in shares of ResMed by 3.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 52 shares in the last quarter. MV Capital Management Inc. grew its stake in ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after acquiring an additional 60 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in ResMed by 7.6% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 902 shares of the medical equipment provider’s stock valued at $155,000 after acquiring an additional 64 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its stake in shares of ResMed by 0.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Oppenheimer cut their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Needham & Company LLC increased their price objective on shares of ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research report on Friday, April 26th. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, April 26th. UBS Group lifted their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Finally, Mizuho reiterated a “buy” rating and issued a $215.00 price objective on shares of ResMed in a report on Wednesday, March 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.80.

Check Out Our Latest Stock Analysis on RMD

About ResMed

(Get Free Report)

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.

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