ResMed (NYSE:RMD) CEO Michael Farrell Sells 4,991 Shares

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ResMed Stock Performance

Shares of RMD opened at $263.21 on Wednesday. The company has a market capitalization of $38.34 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $252.58 and a 200 day moving average price of $263.24.

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

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is currently 23.74%.

Analyst Ratings Changes

Several research firms have recently weighed in on RMD. Morgan Stanley set a $305.00 target price on ResMed in a report on Friday, October 31st. Wells Fargo & Company lifted their price target on ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. KeyCorp restated an “overweight” rating and set a $302.00 target price on shares of ResMed in a research report on Friday, January 30th. Finally, Robert W. Baird set a $281.00 target price on shares of ResMed in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $299.27.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc raised its stake in shares of ResMed by 12.1% during the fourth quarter. TD Asset Management Inc now owns 85,662 shares of the medical equipment provider’s stock worth $20,633,000 after purchasing an additional 9,256 shares during the last quarter. CIBC Asset Management Inc increased its stake in ResMed by 67.4% in the 4th quarter. CIBC Asset Management Inc now owns 34,588 shares of the medical equipment provider’s stock valued at $8,331,000 after buying an additional 13,920 shares during the period. Bank of New York Mellon Corp raised its position in ResMed by 7.4% during the 4th quarter. Bank of New York Mellon Corp now owns 4,890,654 shares of the medical equipment provider’s stock worth $1,178,012,000 after buying an additional 337,738 shares during the last quarter. Goldman Sachs Group Inc. raised its position in ResMed by 13.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock worth $235,833,000 after buying an additional 118,296 shares during the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of ResMed by 1,762.4% in the 4th quarter. Westpac Banking Corp now owns 22,535 shares of the medical equipment provider’s stock worth $5,428,000 after acquiring an additional 21,325 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.