ResMed (NYSE:RMD) Director Peter Farrell Sells 2,000 Shares

by · The Cerbat Gem

ResMed Inc. (NYSE:RMD – Get Free Report) Director Peter Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.83, for a total value of $497,660.00. Following the completion of the sale, the director directly owned 66,773 shares of the company’s stock, valued at approximately $16,615,125.59. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ResMed Price Performance

Shares of ResMed stock opened at $252.42 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The business’s 50 day simple moving average is $248.33 and its two-hundred day simple moving average is $263.17. The stock has a market capitalization of $36.84 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 1.67 and a beta of 0.88.

ResMed (NYSE:RMD – Get Free Report) last released its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is 24.56%.

Hedge Funds Weigh In On ResMed

Institutional investors have recently added to or reduced their stakes in the company. Wedmont Private Capital lifted its position in ResMed by 2.7% during the fourth quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 57 shares during the period. Maridea Wealth Management LLC purchased a new position in ResMed during the 4th quarter valued at about $378,000. Nordea Investment Management AB lifted its position in ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after acquiring an additional 294,124 shares during the period. Occidental Asset Management LLC boosted its stake in ResMed by 3.0% during the fourth quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after acquiring an additional 49 shares in the last quarter. Finally, Sagespring Wealth Partners LLC grew its holdings in ResMed by 12.0% in the fourth quarter. Sagespring Wealth Partners LLC now owns 2,269 shares of the medical equipment provider’s stock worth $546,000 after purchasing an additional 243 shares during the period. Institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on RMD shares. KeyCorp raised their target price on ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Morgan Stanley set a $305.00 price objective on ResMed in a research report on Friday, October 31st. Robert W. Baird restated a “neutral” rating and set a $275.00 target price (down previously from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Citigroup began coverage on ResMed in a research note on Thursday, September 18th. They issued a “buy” rating and a $330.00 price target for the company. Finally, Mizuho cut their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $296.09.

View Our Latest Research Report on ResMed

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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