ResMed Inc. (NYSE:RMD) CEO Sells $1,835,662.80 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $104,394,182.40. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Trading Down 4.5 %

ResMed stock traded down $10.76 during trading on Tuesday, hitting $225.87. The company had a trading volume of 413,077 shares, compared to its average volume of 979,182. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company’s 50 day simple moving average is $236.86 and its 200-day simple moving average is $240.13. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The stock has a market cap of $33.17 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. KeyCorp upped their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $243.82.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Menard Financial Group LLC purchased a new stake in shares of ResMed during the fourth quarter worth approximately $98,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of ResMed in the 4th quarter valued at $19,540,000. ABLE Financial Group LLC grew its stake in shares of ResMed by 2.8% during the fourth quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider’s stock worth $604,000 after purchasing an additional 72 shares in the last quarter. Forum Financial Management LP purchased a new position in ResMed in the fourth quarter valued at $273,000. Finally, Toronto Dominion Bank raised its stake in ResMed by 4.3% in the fourth quarter. Toronto Dominion Bank now owns 51,349 shares of the medical equipment provider’s stock valued at $11,743,000 after buying an additional 2,099 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Company Profile

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.