Michael J. Farrell Sells 14,683 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $107,645,432.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ResMed Stock Up 0.4 %

Shares of NYSE RMD opened at $237.93 on Friday. The firm has a market cap of $34.92 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.11 and a beta of 0.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The stock’s 50-day simple moving average is $235.54 and its 200-day simple moving average is $213.84.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the company posted $1.60 EPS. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio (DPR) is currently 32.57%.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. KeyCorp upped their price target on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada lifted their price target on shares of ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a research report on Tuesday, October 1st. Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.18.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in ResMed in the second quarter worth about $32,000. BOK Financial Private Wealth Inc. bought a new position in ResMed during the 1st quarter worth approximately $35,000. Versant Capital Management Inc grew its position in shares of ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed in the 2nd quarter valued at approximately $37,000. Finally, Riverview Trust Co bought a new stake in shares of ResMed in the 1st quarter valued at approximately $42,000. Institutional investors own 54.98% of the company’s stock.

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.