Peter C. Farrell Sells 2,000 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ResMed Stock Performance

RMD opened at $237.11 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock’s 50 day moving average price is $239.68 and its two-hundred day moving average price is $237.19. The firm has a market capitalization of $34.81 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, equities analysts forecast that ResMed Inc. will post 9.41 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed’s payout ratio is 25.03%.

Analyst Ratings Changes

RMD has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Stifel Nicolaus initiated coverage on shares of ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, Royal Bank of Canada increased their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average target price of $244.73.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. True Wealth Design LLC increased its stake in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of ResMed in the 3rd quarter worth approximately $34,000. BankPlus Trust Department acquired a new stake in shares of ResMed during the 4th quarter worth approximately $44,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the fourth quarter valued at approximately $54,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of ResMed in the third quarter valued at $60,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.