ResMed Inc. (NYSE:RMD - Get Free Report) insider Kaushik Ghoshal sold 9,113 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. This trade represents a 48.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
ResMed Trading Down 0.8 %
ResMed stock opened at $231.31 on Wednesday. The business has a 50 day moving average price of $237.07 and a two-hundred day moving average price of $240.02. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock has a market cap of $33.97 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.92%. ResMed's dividend payout ratio (DPR) is 25.03%.
Hedge Funds Weigh In On ResMed
Several large investors have recently added to or reduced their stakes in RMD. Menard Financial Group LLC acquired a new position in shares of ResMed in the 4th quarter worth approximately $98,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of ResMed in the 4th quarter worth approximately $19,540,000. ABLE Financial Group LLC raised its holdings in shares of ResMed by 2.8% in the 4th quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider's stock worth $604,000 after buying an additional 72 shares in the last quarter. Forum Financial Management LP acquired a new position in shares of ResMed in the 4th quarter worth approximately $273,000. Finally, Toronto Dominion Bank raised its holdings in shares of ResMed by 4.3% in the 4th quarter. Toronto Dominion Bank now owns 51,349 shares of the medical equipment provider's stock worth $11,743,000 after buying an additional 2,099 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the company. KeyCorp upped their price target on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating for the company. Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They set a "hold" rating and a $250.00 price objective for the company. Piper Sandler boosted their price objective on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $244.73.
Check Out Our Latest Analysis on ResMed
ResMed Company Profile
(
Get Free Report)
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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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