ResMed Inc. (NYSE:RMD) Director Sells $484,220.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Performance

Shares of RMD stock opened at $236.84 on Friday. The firm has a 50-day moving average of $239.43 and a 200-day moving average of $237.19. The company has a market cap of $34.77 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.69 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a one year low of $170.56 and a one year high of $263.05.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts forecast that ResMed Inc. will post 9.41 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. ResMed’s dividend payout ratio is currently 25.03%.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently made changes to their positions in RMD. Sequoia Financial Advisors LLC increased its holdings in ResMed by 20.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 2,502 shares of the medical equipment provider’s stock worth $572,000 after buying an additional 429 shares during the last quarter. Wealthfront Advisers LLC increased its holdings in ResMed by 447.0% during the fourth quarter. Wealthfront Advisers LLC now owns 42,768 shares of the medical equipment provider’s stock worth $9,781,000 after buying an additional 34,950 shares during the last quarter. Morton Community Bank increased its holdings in ResMed by 1.1% during the fourth quarter. Morton Community Bank now owns 17,304 shares of the medical equipment provider’s stock worth $3,957,000 after buying an additional 180 shares during the last quarter. Independent Advisor Alliance purchased a new stake in ResMed during the fourth quarter worth about $231,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in ResMed during the fourth quarter worth about $371,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on RMD. Robert W. Baird increased their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Stifel Nicolaus began coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler raised their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $244.73.

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.