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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Trading Up 0.6%

RMD stock opened at $252.47 on Friday. The firm has a fifty day moving average price of $248.44 and a 200 day moving average price of $263.16. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. The firm has a market cap of $36.84 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $2.20 earnings per share. ResMed’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Institutional Trading of ResMed

Large investors have recently made changes to their positions in the stock. Entropy Technologies LP lifted its holdings in shares of ResMed by 188.7% in the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after buying an additional 10,708 shares during the period. Quantbot Technologies LP raised its holdings in shares of ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after acquiring an additional 25,810 shares in the last quarter. American Century Companies Inc. lifted its stake in ResMed by 0.7% in the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock worth $45,382,000 after acquiring an additional 1,183 shares during the period. Norges Bank bought a new position in ResMed during the 2nd quarter worth about $306,452,000. Finally, Neuberger Berman Group LLC increased its position in ResMed by 71.2% during the 2nd quarter. Neuberger Berman Group LLC now owns 53,916 shares of the medical equipment provider’s stock valued at $13,910,000 after purchasing an additional 22,431 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RMD. Mizuho decreased their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. KeyCorp boosted their target price on ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Baird R W downgraded ResMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research note on Monday, December 29th. Finally, Citigroup began coverage on shares of ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $296.09.

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.