Michael Farrell Sells 4,991 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of ResMed stock in a transaction on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the sale, the chief executive officer directly owned 466,256 shares in the company, valued at $90,435,013.76. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Down 1.6%

Shares of ResMed stock opened at $193.78 on Thursday. The business’s fifty day moving average price is $211.53 and its two-hundred day moving average price is $236.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The company has a market capitalization of $28.11 billion, a P/E ratio of 18.69, a PEG ratio of 1.25 and a beta of 0.80. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.07. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.37 EPS. As a group, research analysts forecast that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Thursday, May 14th. ResMed’s payout ratio is presently 23.14%.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP lifted its position in shares of ResMed by 240.9% during the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after purchasing an additional 1,072,394 shares during the last quarter. Norges Bank acquired a new position in shares of ResMed during the 4th quarter worth about $249,068,000. Deutsche Bank AG lifted its position in shares of ResMed by 126.0% during the 4th quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after purchasing an additional 787,949 shares during the last quarter. Amundi lifted its position in shares of ResMed by 123.9% during the 1st quarter. Amundi now owns 1,062,184 shares of the medical equipment provider’s stock worth $238,439,000 after purchasing an additional 587,872 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after purchasing an additional 578,559 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RMD shares. Citigroup lowered their price target on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Royal Bank Of Canada lifted their price target on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. KeyCorp lowered their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a report on Monday, April 27th. Wells Fargo & Company lowered their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Finally, Weiss Ratings downgraded ResMed from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.18.

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.