ResMed Inc. (NYSE:RMD) Director Peter C. Farrell Sells 2,000 Shares

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director now owns 71,218 shares of the company’s stock, valued at approximately $17,252,560.50. This trade represents a 2.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ResMed Stock Down 0.7 %

Shares of NYSE RMD opened at $243.06 on Friday. The firm’s 50-day moving average is $223.09 and its two-hundred day moving average is $234.06. The company has a market capitalization of $35.64 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 12-month low of $179.42 and a 12-month high of $263.05. 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 (NYSE:RMD) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. ResMed’s quarterly revenue was up 7.9% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be paid a $0.53 dividend. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s payout ratio is currently 23.79%.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commerce Bank grew its holdings in ResMed by 7.6% in the 1st quarter. Commerce Bank now owns 6,937 shares of the medical equipment provider’s stock valued at $1,553,000 after buying an additional 489 shares during the period. Jefferies Financial Group Inc. raised its holdings in shares of ResMed by 109.4% in the 1st quarter. Jefferies Financial Group Inc. now owns 15,300 shares of the medical equipment provider’s stock worth $3,425,000 after purchasing an additional 7,994 shares during the period. Alberta Investment Management Corp grew its holdings in shares of ResMed by 86.5% during the 1st quarter. Alberta Investment Management Corp now owns 19,400 shares of the medical equipment provider’s stock worth $4,343,000 after purchasing an additional 9,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in ResMed during the 1st quarter worth approximately $5,301,000. Finally, Natixis Advisors LLC lifted its position in ResMed by 7.9% during the first quarter. Natixis Advisors LLC now owns 61,611 shares of the medical equipment provider’s stock valued at $13,792,000 after buying an additional 4,500 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Ratings Changes

RMD has been the topic of a number of analyst reports. UBS Group reduced their price objective on ResMed from $290.00 to $285.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of ResMed from $286.00 to $290.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. Finally, Piper Sandler cut their target price on shares of ResMed from $260.00 to $248.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.83.

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.