ResMed Inc. (NYSE:RMD) CEO Sells $3,178,869.50 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the sale, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ResMed Price Performance

Shares of RMD traded up $2.22 during trading hours on Thursday, hitting $215.10. 211,097 shares of the stock were exchanged, compared to its average volume of 1,058,933. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $237.26. The company has a market cap of $31.60 billion, a price-to-earnings ratio of 32.70, a price-to-earnings-growth ratio of 2.68 and a beta of 0.64. The stock’s 50-day moving average price is $192.67 and its two-hundred day moving average price is $176.28.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the company earned $1.68 EPS. ResMed’s revenue for the quarter was up 7.2% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 7.59 earnings per share for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 29.49%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMD. Blair William & Co. IL lifted its holdings in shares of ResMed by 0.6% in the first quarter. Blair William & Co. IL now owns 288,061 shares of the medical equipment provider’s stock valued at $57,045,000 after purchasing an additional 1,762 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after purchasing an additional 35,273 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of ResMed by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock worth $37,586,000 after acquiring an additional 13,894 shares in the last quarter. Dearborn Partners LLC bought a new position in ResMed in the 1st quarter worth approximately $222,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of ResMed by 9.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,262 shares of the medical equipment provider’s stock valued at $3,418,000 after acquiring an additional 1,447 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Oppenheimer decreased their price target on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 price target on shares of ResMed in a report on Wednesday, March 27th. Needham & Company LLC boosted their price target on shares of ResMed from $224.00 to $236.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. KeyCorp upped their price objective on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, UBS Group increased their price target on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $202.80.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.