Insider Selling: ResMed Inc. (NYSE:RMD) COO Sells $349,275.00 in Stock

Posted by Defense World Staff on May 19th, 2023

ResMed Inc. (NYSE:RMD – Get Rating) COO Robert Andrew Douglas sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $232.85, for a total transaction of $349,275.00. Following the completion of the sale, the chief operating officer now directly owns 255,026 shares in the company, valued at $59,382,804.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Andrew Douglas also recently made the following trade(s):

On Monday, April 17th, Robert Andrew Douglas sold 1,500 shares of ResMed stock. The shares were sold at an average price of $224.65, for a total transaction of $336,975.00.
On Wednesday, March 15th, Robert Andrew Douglas sold 1,500 shares of ResMed stock. The shares were sold at an average price of $206.14, for a total transaction of $309,210.00.
On Wednesday, February 15th, Robert Andrew Douglas sold 1,500 shares of ResMed stock. The stock was sold at an average price of $213.50, for a total transaction of $320,250.00.

ResMed Stock Up 0.1 %

Shares of ResMed stock opened at $224.21 on Friday. The stock has a market capitalization of $32.94 billion, a P/E ratio of 38.20, a PEG ratio of 3.35 and a beta of 0.48. The company has a quick ratio of 1.74, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. The stock has a 50 day moving average price of $222.46 and a two-hundred day moving average price of $219.97. ResMed Inc. has a 12-month low of $190.12 and a 12-month high of $247.65.

ResMed (NYSE:RMD – Get Rating) last announced its earnings results on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.10. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.05 billion. ResMed had a return on equity of 25.82% and a net margin of 21.49%. The company’s revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.32 earnings per share. Equities analysts expect that ResMed Inc. will post 6.48 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. ResMed’s payout ratio is 29.98%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Ossiam raised its stake in ResMed by 2.4% during the first quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock worth $420,000 after acquiring an additional 45 shares in the last quarter. Ascent Group LLC raised its stake in ResMed by 2.3% during the third quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock worth $446,000 after acquiring an additional 45 shares in the last quarter. Seven Eight Capital LP raised its stake in ResMed by 3.8% during the third quarter. Seven Eight Capital LP now owns 1,265 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 46 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of ResMed by 3.6% in the fourth quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock valued at $291,000 after buying an additional 48 shares in the last quarter. Finally, Kentucky Retirement Systems increased its stake in shares of ResMed by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 11,512 shares of the medical equipment provider’s stock valued at $2,396,000 after buying an additional 50 shares in the last quarter. 64.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on RMD shares. Mizuho started coverage on shares of ResMed in a research note on Thursday, April 13th. They set a “buy” rating and a $255.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of ResMed from $245.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 27th. William Blair reaffirmed an “outperform” rating on shares of ResMed in a report on Tuesday, January 31st. Finally, StockNews.com started coverage on shares of ResMed in a report on Thursday. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average price target of $259.00.

ResMed Company Profile

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ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.