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

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $251.47, for a total transaction of $502,940.00. Following the sale, the director owned 68,773 shares of the company’s stock, valued at approximately $17,294,346.31. This represents a 2.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Trading Up 1.2%

Shares of RMD stock traded up $2.98 on Friday, hitting $254.49. The stock had a trading volume of 63,507 shares, compared to its average volume of 1,008,884. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13. The firm has a market capitalization of $37.14 billion, a P/E ratio of 26.17, a P/E/G ratio of 1.70 and a beta of 0.87. The company’s 50 day moving average price is $259.74 and its 200-day moving average price is $263.46. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81.

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

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given 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 of this dividend is Thursday, November 13th. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Institutional Investors Weigh In On ResMed

A number of large investors have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. grew its holdings in shares of ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. Imprint Wealth LLC purchased a new stake in ResMed during the third quarter valued at about $26,000. WFA of San Diego LLC bought a new position in shares of ResMed during the second quarter valued at about $26,000. Sunbelt Securities Inc. purchased a new position in shares of ResMed in the third quarter worth about $31,000. Finally, Westside Investment Management Inc. increased its holdings in shares of ResMed by 100.0% in the third quarter. Westside Investment Management Inc. now owns 132 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 66 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of analyst reports. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research report on Friday, October 31st. KeyCorp increased their price target on shares of ResMed from $298.00 to $299.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. CLSA raised ResMed from a “hold” rating to an “outperform” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada boosted their target price on ResMed from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday, October 31st. Finally, UBS Group raised ResMed to a “strong-buy” rating in a report on Tuesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $297.45.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.