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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares in the company, valued at approximately $115,837,766.58. This represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Up 1.1%

Shares of NYSE:RMD traded up $2.69 during midday trading on Thursday, reaching $250.90. 696,943 shares of the company were exchanged, compared to its average volume of 803,131. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The firm has a market cap of $36.62 billion, a PE ratio of 25.68, a P/E/G ratio of 1.68 and a beta of 0.88. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The stock has a fifty day simple moving average of $248.35 and a two-hundred day simple moving average of $263.26.

ResMed (NYSE:RMD) last released its earnings results 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. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.20 earnings per share. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were paid a $0.60 dividend. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed’s dividend payout ratio is 24.56%.

Analyst Upgrades and Downgrades

RMD has been the subject of several research analyst reports. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research report on Friday, October 31st. KeyCorp raised their price target on shares of ResMed from $298.00 to $299.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. UBS Group reiterated a “buy” rating and issued a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Citigroup began coverage on ResMed in a research report on Thursday, September 18th. They set a “buy” rating and a $330.00 target price on the stock. Finally, Mizuho reduced their price target on shares of ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $296.09.

Institutional Investors Weigh In On ResMed

A number of institutional investors and hedge funds have recently bought and sold shares of RMD. Wedmont Private Capital grew its stake in shares of 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 last quarter. Maridea Wealth Management LLC bought a new position in ResMed in the fourth quarter worth about $378,000. Nordea Investment Management AB lifted its stake in shares of ResMed by 37.2% in 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 purchasing an additional 294,124 shares during the period. Occidental Asset Management LLC boosted its holdings in shares of ResMed by 3.0% during the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after buying an additional 49 shares in the last quarter. Finally, Sagespring Wealth Partners LLC boosted its stake in ResMed by 12.0% during the fourth quarter. Sagespring Wealth Partners LLC now owns 2,269 shares of the medical equipment provider’s stock worth $546,000 after acquiring an additional 243 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

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.