Robert Andrew Douglas Sells 11,189 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMDGet Rating) COO Robert Andrew Douglas sold 11,189 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $232.51, for a total transaction of $2,601,554.39. Following the transaction, the chief operating officer now owns 28,408 shares in the company, valued at $6,605,144.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Stock Performance

Shares of RMD stock opened at $223.07 on Friday. The stock has a market capitalization of $32.66 billion, a P/E ratio of 42.01, a PEG ratio of 3.24 and a beta of 0.50. The company has a current ratio of 2.80, a quick ratio of 1.72 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $230.45 and its 200 day moving average is $224.70. ResMed Inc. has a 12 month low of $189.40 and a 12 month high of $291.75.

ResMed (NYSE:RMDGet Rating) last announced its quarterly earnings results on Thursday, August 11th. The medical equipment provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. The company had revenue of $914.74 million for the quarter, compared to analysts’ expectations of $912.53 million. ResMed had a net margin of 21.78% and a return on equity of 26.56%. ResMed’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.35 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 6.57 earnings per share for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, August 18th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, August 17th. This is a positive change from ResMed’s previous quarterly dividend of $0.42. ResMed’s dividend payout ratio is 33.15%.

Wall Street Analysts Forecast Growth

RMD has been the topic of several analyst reports. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Thursday, September 8th. JPMorgan Chase & Co. cut shares of ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. Royal Bank of Canada cut shares of ResMed from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $246.00 to $252.00 in a research note on Friday, August 12th. They noted that the move was a valuation call. Finally, StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.40.

Institutional Trading of ResMed

Hedge funds and other institutional investors have recently bought and sold shares of the company. Baird Financial Group Inc. increased its holdings in ResMed by 2.1% during the 1st quarter. Baird Financial Group Inc. now owns 374,936 shares of the medical equipment provider’s stock worth $90,925,000 after acquiring an additional 7,642 shares during the period. National Pension Service increased its holdings in shares of ResMed by 12.2% in the 1st quarter. National Pension Service now owns 218,740 shares of the medical equipment provider’s stock worth $53,047,000 after buying an additional 23,712 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of ResMed by 4.8% in the 1st quarter. Copeland Capital Management LLC now owns 5,473 shares of the medical equipment provider’s stock worth $1,327,000 after buying an additional 253 shares during the last quarter. Greenleaf Trust increased its holdings in shares of ResMed by 10.7% in the 1st quarter. Greenleaf Trust now owns 2,250 shares of the medical equipment provider’s stock worth $546,000 after buying an additional 218 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of ResMed by 15.2% in the 1st quarter. Illinois Municipal Retirement Fund now owns 27,817 shares of the medical equipment provider’s stock worth $6,746,000 after buying an additional 3,666 shares during the last quarter. Institutional investors own 65.50% of the company’s stock.

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.

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