Michael Farrell Sells 8,011 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 8,011 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $249.75, for a total value of $2,000,747.25. Following the sale, the chief executive officer directly owned 467,866 shares in the company, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

ResMed Trading Up 1.0%

RMD opened at $252.65 on Wednesday. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The company has a 50-day simple moving average of $267.68 and a 200 day simple moving average of $262.88. The company has a quick ratio of 2.53, a current ratio of 3.44 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $36.87 billion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last released its earnings results on Thursday, October 30th. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. Analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is 24.56%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RMD. Robert W. Baird cut their target price on ResMed from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Morgan Stanley set a $305.00 price objective on ResMed in a research note on Friday, October 31st. UBS Group upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 16th. Piper Sandler increased their target price on shares of ResMed from $248.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of ResMed in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $297.45.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. 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 worth $25,000 after acquiring an additional 86 shares during the last quarter. WFA of San Diego LLC bought a new stake in shares of ResMed in the second quarter worth $26,000. Westside Investment Management Inc. grew its stake in shares of ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 66 shares during the last quarter. GoalVest Advisory LLC acquired a new stake in ResMed in the third quarter valued at $37,000. Finally, IMA Advisory Services Inc. raised its position in ResMed by 52.7% during the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

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.