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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the company’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $225.50, for a total transaction of $1,125,470.50. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $105,133,286.50. This represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Price Performance

NYSE RMD traded down $2.53 during trading on Thursday, hitting $228.17. 438,762 shares of the company’s stock were exchanged, compared to its average volume of 1,073,256. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $33.24 billion, a PE ratio of 22.57, a P/E/G ratio of 1.49 and a beta of 0.93. ResMed Inc. has a fifty-two week low of $202.00 and a fifty-two week high of $293.81. The stock’s 50 day moving average price is $244.76 and its two-hundred day moving average price is $252.32.

ResMed (NYSE:RMD) last released its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $2.43 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. ResMed’s dividend payout ratio is currently 23.74%.

Institutional Investors Weigh In On ResMed

Several large investors have recently added to or reduced their stakes in RMD. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. International Assets Investment Management LLC purchased a new position in ResMed during the 4th quarter valued at about $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new position in ResMed during the 3rd quarter valued at about $26,000. Finally, WFA of San Diego LLC purchased a new position in ResMed during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Citigroup cut their price target on ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank Of Canada increased their price target on ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Piper Sandler increased their price target on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Weiss Ratings cut ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $298.82.

ResMed Company Profile

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.