ResMed (NYSE:RMD) CEO Michael Farrell Sells 4,993 Shares of Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,993 shares of ResMed stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $235.35, for a total transaction of $1,175,102.55. Following the sale, the chief executive officer owned 479,803 shares of the company’s stock, valued at $112,921,636.05. The trade was a 1.03% 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 Price Performance

ResMed stock opened at $238.27 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.65 and a quick ratio of 1.88. The stock has a market cap of $33.52 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.42 and a beta of 0.77. The firm has a 50-day moving average of $231.83 and a two-hundred day moving average of $224.58. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $277.67.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 29th. The medical equipment provider reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.24. ResMed had a return on equity of 26.42% and a net margin of 27.79%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the previous year, the business earned $2.55 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts forecast that ResMed Inc. will post 12.14 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, November 12th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s payout ratio is presently 24.04%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bell Investment Advisors Inc acquired a new position in shares of ResMed in the 2nd quarter valued at $26,000. Trust Co. of Vermont purchased a new position in ResMed in the second quarter valued at $39,000. Kelleher Financial Advisors purchased a new position in ResMed in the second quarter valued at $47,000. Provenance Wealth Advisors LLC acquired a new position in shares of ResMed in the third quarter worth about $55,000. Finally, Ballast Advisors LLC acquired a new position in shares of ResMed in the first quarter worth about $84,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RMD has been the subject of several research analyst reports. Royal Bank Of Canada increased their price objective on shares of ResMed from $262.00 to $288.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Citigroup boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Canaccord Genuity Group lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Monday, November 2nd. UBS Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Finally, Robert W. Baird set a $213.00 price objective on shares of ResMed in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $253.69.

About ResMed

ResMed is a medical technology company that develops products and software for people with sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its devices include continuous positive airway pressure (CPAP) and bilevel machines, ventilators and related masks and accessories. The company also provides cloud-connected software for managing sleep and respiratory care, along with digital tools used by home medical equipment providers and post-acute care organizations.