ResMed (NYSE:RMD) Director Peter Farrell Sells 2,000 Shares

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the transaction, the director directly owned 64,773 shares of the company’s stock, valued at approximately $16,278,102.63. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Stock Up 1.1%

RMD traded up $2.95 on Friday, hitting $270.00. 396,362 shares of the company were exchanged, compared to its average volume of 1,075,214. The stock’s fifty day moving average is $251.41 and its 200-day moving average is $263.33. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The company has a market cap of $39.33 billion, a PE ratio of 26.73, a PEG ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed’s dividend payout ratio (DPR) is currently 23.74%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new stake in ResMed during the second quarter valued at $306,452,000. Swedbank AB grew its stake in ResMed by 103.1% during the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock worth $265,553,000 after purchasing an additional 559,765 shares during the period. First Trust Advisors LP increased its holdings in ResMed by 285.1% in the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider’s stock worth $121,864,000 after purchasing an additional 329,588 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of ResMed by 2,373.1% during the 3rd quarter. Marshall Wace LLP now owns 310,987 shares of the medical equipment provider’s stock worth $85,126,000 after buying an additional 298,412 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of ResMed by 37.2% in the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after acquiring an additional 294,124 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on RMD. Morgan Stanley set a $305.00 price target on shares of ResMed in a research note on Friday, October 31st. Royal Bank Of Canada upped their price objective on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on shares of ResMed in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. Finally, Citigroup increased their target price on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.