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 dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at $127,642,532.94. This represents a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

ResMed Stock Performance

Shares of RMD opened at $259.58 on Thursday. The company has a 50-day moving average of $252.74 and a two-hundred day moving average of $263.21. The stock has a market cap of $37.82 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business 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 earned $2.43 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. On average, equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, February 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed’s payout ratio is currently 23.74%.

Hedge Funds Weigh In On ResMed

Several institutional investors have recently bought and sold shares of RMD. SJS Investment Consulting Inc. increased its holdings in shares of 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 acquiring an additional 86 shares during the last quarter. International Assets Investment Management LLC acquired a new position in ResMed during the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. Imprint Wealth LLC bought a new position in shares of ResMed in the third quarter valued at approximately $26,000. Finally, WFA of San Diego LLC acquired a new stake in shares of ResMed in the second quarter worth $26,000. 54.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on RMD shares. Wall Street Zen upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Citigroup raised their price target on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Robert W. Baird set a $281.00 price objective on shares of ResMed in a research note on Friday, January 30th. UBS Group reiterated a “buy” rating and issued a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. Finally, KeyCorp restated an “overweight” rating and set a $302.00 price target on shares of ResMed in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

About ResMed

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.