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

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $146.35, for a total transaction of $830,536.25. Following the sale, the chief executive officer now directly owns 449,360 shares of the company’s stock, valued at approximately $65,763,836. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

ResMed Price Performance

Shares of RMD traded down $2.36 during mid-day trading on Tuesday, hitting $143.69. The company’s stock had a trading volume of 1,434,172 shares, compared to its average volume of 847,004. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.12 and a quick ratio of 1.81. The firm has a 50-day moving average price of $183.72 and a 200 day moving average price of $207.16. ResMed Inc. has a fifty-two week low of $142.68 and a fifty-two week high of $243.52. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 23.51, a PEG ratio of 2.23 and a beta of 0.52.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.07). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.14 billion. ResMed had a return on equity of 24.94% and a net margin of 21.25%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.49 EPS. On average, research analysts predict that ResMed Inc. will post 7.08 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, August 16th. This is a positive change from ResMed’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.34%. ResMed’s payout ratio is 31.48%.

Hedge Funds Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in ResMed during the third quarter valued at about $26,000. Compass Wealth Management LLC purchased a new stake in shares of ResMed in the 4th quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV boosted its stake in ResMed by 72.4% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 131 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 55 shares during the period. Raleigh Capital Management Inc. purchased a new position in ResMed during the 2nd quarter worth approximately $32,000. Finally, International Assets Investment Management LLC raised its stake in ResMed by 3,940.0% during the 1st quarter. International Assets Investment Management LLC now owns 202 shares of the medical equipment provider’s stock valued at $44,000 after purchasing an additional 197 shares during the period. Institutional investors and hedge funds own 63.79% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RMD shares. Royal Bank of Canada dropped their price target on ResMed from $284.00 to $273.00 and set an “outperform” rating on the stock in a research report on Monday, August 14th. Bank of America dropped their target price on ResMed from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th. KeyCorp lowered their target price on ResMed from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Finally, Needham & Company LLC upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $248.29.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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.