ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 14,683 Shares

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $107,645,432.79. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Stock Up 1.1 %

Shares of NYSE RMD opened at $240.51 on Friday. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $236.01 and a 200-day moving average of $214.01. The firm has a market capitalization of $35.33 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 2.14 and a beta of 0.69. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.60 EPS. Sell-side analysts expect that ResMed Inc. will post 9.02 earnings per share for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a dividend of $0.53 per share. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 32.57%.

Institutional Investors Weigh In On ResMed

Hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of ResMed during the 2nd quarter valued at about $32,000. BOK Financial Private Wealth Inc. purchased a new stake in ResMed in the first quarter worth approximately $35,000. Versant Capital Management Inc grew its position in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. purchased a new position in shares of ResMed during the second quarter worth approximately $37,000. Finally, Riverview Trust Co bought a new stake in shares of ResMed in the 1st quarter worth approximately $42,000. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RMD. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Tuesday, October 1st. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.