ResMed Inc. (NYSE:RMD) CEO Sells $3,145,832.75 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $214.25, for a total transaction of $3,145,832.75. Following the completion of the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at approximately $94,441,185.75. The sale was disclosed in a filing with the SEC, which is accessible through this link.

ResMed Stock Performance

RMD opened at $216.59 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The company has a market cap of $31.82 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 1.81 and a beta of 0.66. The stock has a 50-day moving average of $204.58 and a 200-day moving average of $198.11. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $225.68.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts forecast that ResMed Inc. will post 8.76 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.98%. ResMed’s payout ratio is currently 32.57%.

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently made changes to their positions in RMD. Dorsey & Whitney Trust CO LLC grew its holdings in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 52 shares during the last quarter. QRG Capital Management Inc. raised its stake in shares of ResMed by 4.5% in the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after acquiring an additional 56 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after acquiring an additional 56 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of ResMed by 39.0% in the 4th quarter. MV Capital Management Inc. now owns 214 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 60 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in ResMed by 1.9% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after acquiring an additional 60 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RMD. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Royal Bank of Canada boosted their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. KeyCorp lifted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.70.

About ResMed

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.