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 business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total transaction of $1,240,063.86. Following the transaction, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $115,837,766.58. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Performance

NYSE RMD traded up $2.69 during trading hours on Thursday, hitting $250.90. 696,943 shares of the company’s stock traded hands, compared to its average volume of 803,131. The business’s fifty day moving average price is $248.35 and its two-hundred day moving average price is $263.26. The firm has a market capitalization of $36.62 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.68 and a beta of 0.88. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07.

ResMed (NYSE:RMD – Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) 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 company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.20 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. Equities research analysts predict that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

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

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently made changes to their positions in RMD. Entropy Technologies LP boosted its position in ResMed by 188.7% during the 2nd quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after acquiring an additional 10,708 shares during the last quarter. Quantbot Technologies LP grew its stake in shares of ResMed by 244.8% in the second quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after buying an additional 25,810 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of ResMed by 0.7% in the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after purchasing an additional 1,183 shares during the period. Norges Bank bought a new stake in ResMed in the 2nd quarter valued at $306,452,000. Finally, Inspire Investing LLC grew its position in shares of ResMed by 29.3% in the first quarter. Inspire Investing LLC now owns 28,578 shares of the medical equipment provider’s stock valued at $6,397,000 after purchasing an additional 6,472 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RMD. Weiss Ratings restated a “hold (c+)” rating on shares of ResMed in a research report on Monday, December 29th. KeyCorp boosted their price target on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Wells Fargo & Company began coverage on ResMed in a research note on Monday, October 13th. They set an “equal weight” rating and a $280.00 price objective for the company. Royal Bank Of Canada increased their price objective on ResMed from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Morgan Stanley set a $305.00 target price on shares of ResMed in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.09.

Read Our Latest Analysis 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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