ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 8,009 Shares

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $104,394,182.40. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

ResMed Stock Performance

RMD opened at $225.47 on Wednesday. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The firm has a market capitalization of $33.11 billion, a PE ratio of 26.62, a PEG ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The business’s 50-day simple moving average is $236.80 and its 200 day simple moving average is $240.13.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a $0.53 dividend. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.94%. ResMed’s dividend payout ratio is 25.03%.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC raised its stake in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the period. Colonial Trust Co SC raised its stake in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. bought a new stake in ResMed in the fourth quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new stake in ResMed in the third quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. raised its stake in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 150 shares during the period. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RMD shares. Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. The Goldman Sachs Group started coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.82.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.