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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of ResMed stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total value of $1,026,598.79. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Performance

NYSE:RMD opened at $225.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. The stock has a 50-day simple moving average of $202.77 and a two-hundred day simple moving average of $221.29. The firm has a market capitalization of $32.70 billion, a PE ratio of 21.61, a P/E/G ratio of 1.41 and a beta of 0.76. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same quarter last year, the company earned $2.55 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts forecast that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. This is a positive change from ResMed’s previous quarterly dividend of $0.60. ResMed’s dividend payout ratio (DPR) is 25.31%.

Hedge Funds Weigh In On ResMed

Several institutional investors have recently bought and sold shares of RMD. BlackRock Inc. purchased a new stake in ResMed in the 2nd quarter worth $2,400,375,000. Bank of New York Mellon Corp purchased a new stake in ResMed during the second quarter valued at approximately $818,030,000. Deutsche Bank AG purchased a new position in shares of ResMed in the 2nd quarter worth approximately $257,692,000. First Trust Advisors LP increased its position in shares of ResMed by 240.9% during the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock valued at $365,542,000 after purchasing an additional 1,072,394 shares during the last quarter. Finally, Norges Bank bought a new stake in ResMed in the fourth quarter worth $249,068,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMD has been the subject of a number of recent analyst reports. KeyCorp dropped their price target on shares of ResMed from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Royal Bank Of Canada upped their target price on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Citigroup reiterated a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Finally, Jefferies Financial Group decreased their price target on ResMed from $240.00 to $225.00 and set a “hold” rating on the stock in a report on Friday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, ResMed presently has a consensus rating of “Hold” and a consensus price target of $240.17.

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.