ResMed (NYSE:RMD) Director Sells $502,620.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $251.31, for a total value of $502,620.00. Following the completion of the transaction, the director owned 64,773 shares in the company, valued at $16,278,102.63. The trade was a 3.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ResMed Stock Up 1.8%

Shares of NYSE RMD opened at $271.86 on Monday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $251.78 and a 200 day moving average of $263.30. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The stock has a market cap of $39.60 billion, a PE ratio of 26.89, a P/E/G ratio of 1.80 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business’s revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.43 earnings per share. As a group, sell-side 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, March 19th. Investors of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RMD. Johnson Investment Counsel Inc. increased its stake in ResMed by 2.8% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock valued at $430,000 after buying an additional 45 shares during the period. Quadcap Wealth Management LLC boosted its stake in shares of ResMed by 2.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after acquiring an additional 45 shares in the last quarter. Terra Nova Asset Management LLC boosted its position in ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock worth $2,136,000 after purchasing an additional 46 shares in the last quarter. NBT Bank N A NY boosted its position in shares of ResMed by 22.9% in the 3rd quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock worth $69,000 after buying an additional 47 shares in the last quarter. Finally, OFI Invest Asset Management lifted its holdings in shares of ResMed by 10.4% in the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock valued at $139,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RMD. Citigroup raised their price objective on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Mizuho dropped their price objective on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Finally, Wells Fargo & Company increased their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. One investment 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 stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price 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.