ResMed Inc. (NYSE:RMD) Director Peter C. Farrell Sells 2,000 Shares

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Stock Up 2.1 %

Shares of NYSE RMD traded up $5.32 during trading on Friday, hitting $253.86. The stock had a trading volume of 336,805 shares, compared to its average volume of 1,048,182. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market capitalization of $37.27 billion, a PE ratio of 33.52, a PEG ratio of 1.80 and a beta of 0.69. ResMed Inc. has a 12 month low of $140.81 and a 12 month high of $260.49. The firm has a fifty day moving average of $243.12 and a two-hundred day moving average of $221.39.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 11.1% on a year-over-year basis. As a group, equities research analysts forecast that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.84%. ResMed’s payout ratio is currently 28.08%.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research reports. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Robert W. Baird upped their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Bank of America upped their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after purchasing an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in ResMed by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock valued at $37,586,000 after acquiring an additional 13,894 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of ResMed by 211.1% during the first quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after purchasing an additional 13,316 shares in the last quarter. iA Global Asset Management Inc. bought a new stake in ResMed in the 1st quarter worth about $3,055,000. Finally, Versor Investments LP lifted its stake in ResMed by 327.3% during the 2nd quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock valued at $900,000 after acquiring an additional 3,600 shares during the period. 54.98% of the stock is currently owned by institutional investors.

About ResMed

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.