Insider Selling: ResMed (NYSE:RMD) Director Sells 970 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 970 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $234.73, for a total transaction of $227,688.10. Following the sale, the director owned 51,803 shares in the company, valued at approximately $12,159,718.19. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Performance

Shares of RMD stock opened at $228.91 on Friday. ResMed Inc. has a 52 week low of $180.26 and a 52 week high of $284.87. The firm has a 50 day moving average of $214.95 and a two-hundred day moving average of $218.15. The company has a quick ratio of 2.42, a current ratio of 3.10 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $33.02 billion, a PE ratio of 21.95, a P/E/G ratio of 1.45 and a beta of 0.77.

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 the consensus estimate of $2.89 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm earned $2.55 earnings per share. On average, research analysts predict that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. This is an increase from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio is 25.31%.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of RMD. International Assets Investment Management LLC acquired a new stake in ResMed during the fourth quarter worth approximately $25,000. Bell Investment Advisors Inc purchased a new stake in ResMed in the 2nd quarter valued at about $26,000. Imprint Wealth LLC purchased a new position in shares of ResMed during the 3rd quarter worth about $26,000. WFA of San Diego LLC acquired a new position in ResMed during the second quarter worth approximately $26,000. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed in the 3rd quarter valued at $31,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Robert W. Baird set a $213.00 price objective on ResMed in a research report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a report on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Morgan Stanley reaffirmed an “equal weight” rating and set a $230.00 price objective (down from $286.00) on shares of ResMed in a research report on Wednesday, June 17th. Finally, UBS Group reissued a “buy” rating and issued a $300.00 target price on shares of ResMed in a report on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $240.31.

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.