Michael Farrell Sells 4,991 Shares of ResMed (NYSE:RMD) Stock

by · The Cerbat Gem

ResMed Inc. (NYSE:RMD – Get Free Report) CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total value of $1,037,229.62. Following the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $96,890,463.86. The trade was a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Performance

Shares of ResMed stock opened at $206.65 on Monday. The firm’s fifty day simple moving average is $230.41 and its 200-day simple moving average is $245.04. ResMed Inc. has a 12 month low of $198.64 and a 12 month high of $293.81. The stock has a market capitalization of $30.10 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33.

ResMed (NYSE:RMD – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. ResMed’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.37 EPS. As a group, equities analysts forecast that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio is 23.14%.

Wall Street Analysts Forecast Growth

RMD has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. KeyCorp lowered their target price on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Stifel Nicolaus upped their price target on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company decreased their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $286.18.

Read Our Latest Stock Report on RMD

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Andra AP fonden boosted its holdings in ResMed by 437.8% during the first quarter. Andra AP fonden now owns 84,343 shares of the medical equipment provider’s stock worth $18,933,000 after buying an additional 68,661 shares in the last quarter. Florida Financial Advisors LLC purchased a new position in ResMed in the first quarter valued at about $211,000. Meeder Advisory Services Inc. lifted its position in shares of ResMed by 10.4% during the 1st quarter. Meeder Advisory Services Inc. now owns 2,579 shares of the medical equipment provider’s stock valued at $579,000 after acquiring an additional 244 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of ResMed by 2.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,004,218 shares of the medical equipment provider’s stock valued at $225,389,000 after acquiring an additional 23,674 shares during the period. Finally, Little House Capital LLC purchased a new stake in shares of ResMed during the 1st quarter worth approximately $695,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

(Get Free Report)

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.

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