ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 5,675 Shares of Stock

ResMed Inc. (NYSE:RMDGet Rating) CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $228.96, for a total transaction of $1,299,348.00. Following the completion of the transaction, the chief executive officer now directly owns 422,570 shares of the company’s stock, valued at $96,751,627.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Stock Up 0.5 %

Shares of RMD stock opened at $224.26 on Tuesday. ResMed Inc. has a 12 month low of $189.40 and a 12 month high of $291.75. The stock has a market cap of $32.84 billion, a P/E ratio of 42.23, a P/E/G ratio of 3.20 and a beta of 0.50. The company has a current ratio of 2.80, a quick ratio of 1.72 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $230.45 and a two-hundred day simple moving average of $224.35.

ResMed (NYSE:RMDGet Rating) last announced its earnings results on Thursday, August 11th. The medical equipment provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.01. ResMed had a net margin of 21.78% and a return on equity of 26.56%. The business had revenue of $914.74 million during the quarter, compared to analysts’ expectations of $912.53 million. During the same period in the prior year, the company earned $1.35 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, research analysts expect that ResMed Inc. will post 6.57 earnings per share for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th will be given a $0.44 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.42. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Wednesday, August 17th. ResMed’s dividend payout ratio is presently 33.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Royal Bank of Canada cut shares of ResMed from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from $246.00 to $252.00 in a report on Friday, August 12th. They noted that the move was a valuation call. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Thursday, September 8th. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Finally, JPMorgan Chase & Co. cut shares of ResMed from an “overweight” rating to a “neutral” rating in a report on Friday, August 12th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.40.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently modified their holdings of RMD. Norges Bank bought a new position in shares of ResMed in the fourth quarter worth approximately $293,743,000. Capital World Investors boosted its position in shares of ResMed by 24.3% in the first quarter. Capital World Investors now owns 4,470,998 shares of the medical equipment provider’s stock worth $1,084,262,000 after purchasing an additional 875,001 shares during the period. FMR LLC boosted its position in shares of ResMed by 7.7% in the second quarter. FMR LLC now owns 7,519,624 shares of the medical equipment provider’s stock worth $1,576,339,000 after purchasing an additional 535,742 shares during the period. JPMorgan Chase & Co. boosted its position in shares of ResMed by 48.0% in the first quarter. JPMorgan Chase & Co. now owns 1,173,994 shares of the medical equipment provider’s stock worth $284,705,000 after purchasing an additional 380,645 shares during the period. Finally, BlackRock Inc. boosted its position in shares of ResMed by 2.8% in the fourth quarter. BlackRock Inc. now owns 13,048,735 shares of the medical equipment provider’s stock worth $3,398,935,000 after purchasing an additional 360,161 shares during the period. 65.50% of the stock is currently owned by institutional investors.

ResMed Company Profile

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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Further Reading

Insider Buying and Selling by Quarter for ResMed (NYSE:RMD)

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