Peter Farrell Sells 2,000 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Stock Up 0.1%

NYSE:RMD opened at $224.23 on Friday. The company has a market cap of $32.67 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock’s fifty day moving average price is $246.52 and its two-hundred day moving average price is $253.41. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last released its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 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 analysts’ expectations of $1.40 billion. During the same period last year, the firm earned $2.43 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, analysts anticipate 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. Shareholders of record on Thursday, February 12th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s payout ratio is currently 23.74%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada boosted their price target on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. UBS Group restated a “buy” rating and issued a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, KeyCorp reiterated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $299.27.

Institutional Trading of ResMed

A number of institutional investors and hedge funds have recently modified their holdings of RMD. Jones Financial Companies Lllp boosted its stake in ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after acquiring an additional 994 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in ResMed by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,316 shares of the medical equipment provider’s stock valued at $1,372,000 after purchasing an additional 350 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in ResMed by 1.0% in the second quarter. Panagora Asset Management Inc. now owns 6,661 shares of the medical equipment provider’s stock worth $1,719,000 after purchasing an additional 63 shares during the period. Shelton Capital Management acquired a new stake in ResMed in the second quarter worth $214,000. Finally, Fisher Asset Management LLC boosted its position in shares of ResMed by 0.7% during the second quarter. Fisher Asset Management LLC now owns 46,773 shares of the medical equipment provider’s stock worth $12,068,000 after purchasing an additional 315 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

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.