ResMed Inc. (NYSE:RMD) Director Karen Drexler Sells 425 Shares

ResMed Inc. (NYSE:RMD) Director Karen Drexler sold 425 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $214.92, for a total transaction of $91,341.00. Following the transaction, the director now directly owns 8,446 shares in the company, valued at $1,815,214.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ResMed Price Performance

Shares of RMD opened at $214.96 on Thursday. The firm has a market capitalization of $31.58 billion, a price-to-earnings ratio of 33.02, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a one year low of $132.24 and a one year high of $240.09. The stock’s fifty day moving average is $189.16 and its 200-day moving average is $173.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $1.68 earnings per share. Equities analysts anticipate that ResMed Inc. will post 7.55 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be given a $0.48 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s dividend payout ratio (DPR) is 29.49%.

Hedge Funds Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. Handelsbanken Fonder AB boosted its position in ResMed by 22.5% during the 4th quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after acquiring an additional 12,899 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after acquiring an additional 5,517 shares during the period. Vaughan David Investments LLC IL acquired a new stake in ResMed during the 4th quarter worth about $29,322,000. ICW Investment Advisors LLC boosted its position in ResMed by 2.3% during the 4th quarter. ICW Investment Advisors LLC now owns 11,303 shares of the medical equipment provider’s stock worth $1,944,000 after acquiring an additional 249 shares during the period. Finally, International Assets Investment Management LLC boosted its position in ResMed by 11,960.3% during the 4th quarter. International Assets Investment Management LLC now owns 22,191 shares of the medical equipment provider’s stock worth $3,817,000 after acquiring an additional 22,007 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RMD. Royal Bank of Canada raised their price objective on shares of ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. lifted their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Needham & Company LLC upped their price objective on ResMed from $224.00 to $236.00 and gave the company a “buy” rating in a research note on Friday, April 26th. KeyCorp increased their target price on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Oppenheimer lowered their price target on ResMed from $205.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Four equities 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 currently has an average rating of “Moderate Buy” and an average price target of $202.80.

About ResMed

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.