ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 8,009 Shares

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total value of $1,948,029.07. Following the sale, the chief executive officer now owns 455,503 shares in the company, valued at approximately $110,791,994.69. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ResMed Stock Up 0.8 %

RMD opened at $245.12 on Friday. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market cap of $35.94 billion, a price-to-earnings ratio of 28.94, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. The firm’s fifty day moving average is $223.37 and its 200 day moving average is $234.09.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.01. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 earnings per share. On average, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, May 8th. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RMD shares. Royal Bank of Canada boosted their target price on ResMed from $247.00 to $255.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 24th. Stifel Nicolaus dropped their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Mizuho set a $265.00 price target on ResMed in a research note on Wednesday, April 16th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $258.83.

Hedge Funds Weigh In On ResMed

Hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its position in shares of ResMed by 285.1% during the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC bought a new stake in ResMed in the 4th quarter worth approximately $2,972,000. Principal Financial Group Inc. boosted its position in shares of ResMed by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after acquiring an additional 5,284 shares during the last quarter. Spire Wealth Management grew its holdings in shares of ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its position in ResMed by 2.8% in the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock worth $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

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.