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

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the transaction, the director owned 62,773 shares of the company’s stock, valued at approximately $16,334,790.06. This represents a 3.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ResMed Trading Down 0.9%

Shares of NYSE:RMD opened at $252.95 on Friday. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The company has a market capitalization of $36.85 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88. The company has a 50-day simple moving average of $255.22 and a 200 day simple moving average of $260.21.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.43 EPS. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio is presently 23.74%.

Hedge Funds Weigh In On ResMed

Several institutional investors have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% in the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 86 shares during the period. Imprint Wealth LLC bought a new position in shares of ResMed during the 3rd quarter worth about $26,000. WFA of San Diego LLC acquired a new stake in shares of ResMed in the 2nd quarter valued at about $26,000. International Assets Investment Management LLC acquired a new stake in shares of ResMed in the 4th quarter valued at about $25,000. Finally, ORG Partners LLC increased its position in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on RMD. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Citigroup boosted their target price on ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. KeyCorp reissued an “overweight” rating and issued a $302.00 target price on shares of ResMed in a report on Friday, January 30th. Wall Street Zen upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Stifel Nicolaus lifted their price target on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.27.

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.