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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $225.50, for a total transaction of $1,125,470.50. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at $105,133,286.50. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Price Performance

Shares of NYSE:RMD opened at $229.03 on Friday. The firm’s 50 day moving average price is $243.59 and its 200-day moving average price is $251.83. ResMed Inc. has a twelve month low of $202.00 and a twelve month high of $293.81. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $33.37 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.51 and a beta of 0.93.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping 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 firm had revenue of $1.42 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the business earned $2.43 EPS. The business’s quarterly revenue was up 11.0% on a year-over-year basis. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Institutional Investors Weigh In On ResMed

Institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $25,000 after buying an additional 86 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in ResMed during the 4th quarter valued at approximately $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. Imprint Wealth LLC purchased a new stake in ResMed during the 3rd quarter valued at approximately $26,000. Finally, WFA of San Diego LLC purchased a new stake in ResMed during the 2nd quarter valued at approximately $26,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RMD has been the subject of several analyst reports. Citigroup reduced their target price on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus increased their target price on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. Piper Sandler increased their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Finally, Wells Fargo & Company increased their target price on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $298.82.

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.