ResMed (NYSE:RMD) Stock: Insider Michael Farrell Sells 4,993 Shares

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,993 shares of the stock in a transaction on Monday, November 9th. The shares were sold at an average price of $235.35, for a total value of $1,175,102.55. Following the completion of the sale, the chief executive officer directly owned 479,803 shares of the company’s stock, valued at $112,921,636.05. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Price Performance

Shares of NYSE:RMD opened at $239.57 on Friday. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04. The stock has a market cap of $33.70 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The stock’s fifty day simple moving average is $232.20 and its two-hundred day simple moving average is $224.41. ResMed Inc. has a 1-year low of $180.26 and a 1-year high of $277.67.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, October 29th. The medical equipment provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.24. ResMed had a net margin of 27.79% and a return on equity of 26.42%. The firm had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business posted $2.55 EPS. The business’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts forecast that ResMed Inc. will post 12.14 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, November 12th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 12th. ResMed’s dividend payout ratio (DPR) is presently 24.04%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho set a $270.00 price target on shares of ResMed in a report on Friday, October 30th. UBS Group reiterated a “buy” rating and issued a $300.00 price objective on shares of ResMed in a research note on Tuesday, July 21st. Royal Bank Of Canada increased their price objective on shares of ResMed from $262.00 to $288.00 and gave the company an “outperform” rating in a research note on Friday, October 30th. KeyCorp lifted their target price on shares of ResMed from $267.00 to $277.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Wells Fargo & Company boosted their target price on ResMed from $215.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Friday, October 30th. Seven analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.69.

Institutional Investors Weigh In On ResMed

Several large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of ResMed in the 2nd quarter worth about $2,400,375,000. State Street Corp grew its position in ResMed by 0.6% during the second quarter. State Street Corp now owns 6,680,735 shares of the medical equipment provider’s stock valued at $1,301,942,000 after buying an additional 37,567 shares during the period. Bank of New York Mellon Corp increased its holdings in ResMed by 0.7% during the first quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after buying an additional 34,732 shares during the last quarter. First Trust Advisors LP increased its holdings in ResMed by 18.0% during the third quarter. First Trust Advisors LP now owns 2,688,777 shares of the medical equipment provider’s stock worth $594,489,000 after buying an additional 410,081 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in ResMed during the second quarter worth about $257,692,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Company Profile

ResMed is a medical technology company that develops products and software for people with sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its devices include continuous positive airway pressure (CPAP) and bilevel machines, ventilators and related masks and accessories. The company also provides cloud-connected software for managing sleep and respiratory care, along with digital tools used by home medical equipment providers and post-acute care organizations.