Investors bought shares of ResMed Inc. (NYSE:RMD) on weakness during trading on Wednesday following insider selling activity. $29.09 million flowed into the stock on the tick-up and $12.77 million flowed out of the stock on the tick-down, for a money net flow of $16.32 million into the stock. Of all stocks tracked, ResMed had the 24th highest net in-flow for the day. ResMed traded down ($0.14) for the day and closed at $102.63Specifically, insider Robert Andrew Douglas sold 4,193 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The shares were sold at an average price of $112.56, for a total value of $471,964.08. Following the completion of the sale, the insider now owns 89,605 shares of the company’s stock, valued at $10,085,938.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rajwant Sodhi sold 16,739 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $101.50, for a total transaction of $1,699,008.50. Following the completion of the sale, the insider now directly owns 25,639 shares of the company’s stock, valued at approximately $2,602,358.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,100 shares of company stock valued at $8,244,153. 1.24% of the stock is currently owned by insiders.

RMD has been the subject of several recent analyst reports. BMO Capital Markets raised shares of ResMed from a “market perform” rating to an “outperform” rating and upped their target price for the company from $109.00 to $127.00 in a research note on Monday, December 10th. Deutsche Bank downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Goldman Sachs Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. Finally, JPMorgan Chase & Co. downgraded shares of ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price for the company. in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. ResMed currently has a consensus rating of “Hold” and a consensus price target of $113.20.

The company has a current ratio of 2.44, a quick ratio of 1.76 and a debt-to-equity ratio of 0.61. The company has a market cap of $14.71 billion, a P/E ratio of 28.61, a P/E/G ratio of 2.73 and a beta of 0.58.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. ResMed had a net margin of 18.34% and a return on equity of 26.53%. The firm had revenue of $651.10 million during the quarter, compared to the consensus estimate of $676.77 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, equities analysts predict that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 7th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Wednesday, February 6th. ResMed’s dividend payout ratio is 41.93%.

Hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama increased its position in shares of ResMed by 312.5% during the fourth quarter. Retirement Systems of Alabama now owns 271,524 shares of the medical equipment provider’s stock worth $30,918,000 after acquiring an additional 205,700 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of ResMed during the fourth quarter worth $851,000. Chicago Equity Partners LLC increased its position in shares of ResMed by 503.8% during the fourth quarter. Chicago Equity Partners LLC now owns 58,930 shares of the medical equipment provider’s stock worth $6,710,000 after acquiring an additional 49,170 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of ResMed by 127.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,821 shares of the medical equipment provider’s stock worth $9,772,000 after acquiring an additional 48,067 shares in the last quarter. Finally, BB&T Securities LLC increased its position in shares of ResMed by 65.8% during the fourth quarter. BB&T Securities LLC now owns 27,895 shares of the medical equipment provider’s stock worth $3,175,000 after acquiring an additional 11,069 shares in the last quarter. 67.32% of the stock is owned by institutional investors.

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About ResMed (NYSE:RMD)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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