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

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the transaction, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ResMed Stock Performance

RMD stock traded down $6.43 during trading on Thursday, reaching $239.41. 641,899 shares of the company’s stock were exchanged, compared to its average volume of 1,029,952. The company’s fifty day moving average price is $242.31 and its 200-day moving average price is $226.21. The firm has a market cap of $35.15 billion, a PE ratio of 32.56, a P/E/G ratio of 1.80 and a beta of 0.68. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 1-year low of $162.05 and a 1-year high of $260.49.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 9.28 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid 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 0.89%. ResMed’s dividend payout ratio is currently 28.08%.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its position in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of ResMed in the second quarter worth about $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed during the third quarter valued at approximately $34,000. Financial Connections Group Inc. acquired a new position in ResMed in the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. grew its position in ResMed by 182.7% during the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada upped their price target on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Robert W. Baird boosted their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $225.70.

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.