ResMed (NYSE:RMD) Director Sells $502,620.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the sale, the director owned 64,773 shares of the company’s stock, valued at approximately $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

ResMed Stock Performance

Shares of ResMed stock traded up $2.95 during midday trading on Friday, hitting $270.00. The company had a trading volume of 396,362 shares, compared to its average volume of 1,075,214. The company has a fifty day simple moving average of $251.41 and a 200 day simple moving average of $263.33. The stock has a market cap of $39.33 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.75 and a beta of 0.87. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the previous year, the firm posted $2.43 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, analysts predict that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Wells Fargo & Company boosted their price target on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Morgan Stanley set a $305.00 price objective on ResMed in a research note on Friday, October 31st. Citigroup boosted their price target on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. Finally, Royal Bank Of Canada raised their target price on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $299.27.

Institutional Trading of ResMed

Several hedge funds and other institutional investors have recently modified their holdings of RMD. Johnson Investment Counsel Inc. boosted its position in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 45 shares during the period. Quadcap Wealth Management LLC grew its holdings in shares of ResMed by 2.5% in the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock valued at $485,000 after buying an additional 45 shares during the period. Terra Nova Asset Management LLC increased its holdings in shares of ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after acquiring an additional 46 shares in the last quarter. NBT Bank N A NY grew its position in shares of ResMed by 22.9% in the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after purchasing an additional 47 shares during the period. Finally, OFI Invest Asset Management increased its position in shares of ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.