Insider Selling: ResMed (NYSE:RMD) CEO Sells $1,026,598.79 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the transaction, the chief executive officer owned 466,256 shares of the company’s stock, valued at $95,904,196.64. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Performance

Shares of ResMed stock opened at $226.99 on Friday. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06. The company has a market cap of $32.93 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The company has a 50 day moving average of $203.43 and a 200-day moving average of $221.11. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $293.81.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the firm posted $2.55 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, equities research analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be given a $0.66 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is presently 23.01%.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Imprint Wealth LLC bought a new stake in ResMed in the third quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed in the 4th quarter valued at $25,000. Sunbelt Securities Inc. bought a new stake in shares of ResMed in the 3rd quarter valued at $31,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of ResMed during the second quarter worth $26,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

RMD has been the topic of a number of research analyst reports. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Mizuho dropped their price objective on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, July 15th. Wells Fargo & Company cut their target price on shares of ResMed from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Friday, August 7th. Royal Bank Of Canada boosted their target price on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a research note on Friday, August 7th. Finally, KeyCorp lowered their price target on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $240.17.

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.