Brett Sandercock Sells 3,426 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD – Get Rating) CFO Brett Sandercock sold 3,426 shares of ResMed stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $232.05, for a total value of $795,003.30. Following the completion of the transaction, the chief financial officer now directly owns 103,516 shares of the company’s stock, valued at $24,020,887.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Brett Sandercock also recently made the following trade(s):

• On Monday, February 13th, Brett Sandercock sold 4,000 shares of ResMed stock. The shares were sold at an average price of $215.00, for a total value of $860,000.00.

ResMed Price Performance

Shares of NYSE RMD opened at $236.12 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.74 and a debt-to-equity ratio of 0.40. ResMed Inc. has a twelve month low of $189.40 and a twelve month high of $247.65. The stock has a 50 day moving average of $221.22 and a two-hundred day moving average of $219.95. The stock has a market cap of $34.69 billion, a P/E ratio of 40.22, a P/E/G ratio of 3.49 and a beta of 0.48.

ResMed (NYSE:RMD – Get Rating) last issued its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.10. ResMed had a return on equity of 25.82% and a net margin of 21.49%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. On average, research analysts forecast that ResMed Inc. will post 6.46 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 11th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.75%. The ex-dividend date is Wednesday, May 10th. ResMed’s dividend payout ratio (DPR) is presently 29.98%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RMD shares. JPMorgan Chase & Co. boosted their price objective on ResMed from $245.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. William Blair reaffirmed an “outperform” rating on shares of ResMed in a report on Tuesday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, January 18th. Mizuho assumed coverage on ResMed in a report on Thursday, April 13th. They issued a “buy” rating and a $255.00 price target for the company. Finally, StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average price target of $259.00.

Institutional Investors Weigh In On ResMed

Several large investors have recently modified their holdings of RMD. Norges Bank purchased a new stake in shares of ResMed during the fourth quarter worth approximately $244,477,000. Point72 Asset Management L.P. raised its position in ResMed by 245.2% in the third quarter. Point72 Asset Management L.P. now owns 397,861 shares of the medical equipment provider’s stock worth $86,853,000 after acquiring an additional 282,613 shares in the last quarter. Capital Research Global Investors raised its position in ResMed by 83.1% in the first quarter. Capital Research Global Investors now owns 557,558 shares of the medical equipment provider’s stock worth $135,213,000 after acquiring an additional 253,121 shares in the last quarter. Natixis raised its position in ResMed by 2,341.8% in the fourth quarter. Natixis now owns 220,203 shares of the medical equipment provider’s stock worth $45,831,000 after acquiring an additional 211,185 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in ResMed by 1.2% in the third quarter. Vanguard Group Inc. now owns 16,261,844 shares of the medical equipment provider’s stock worth $3,549,959,000 after acquiring an additional 199,805 shares in the last quarter. Hedge funds and other institutional investors own 64.73% of the company’s stock.

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.