ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 6,651 Shares

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 6,651 shares of ResMed stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $132.35, for a total value of $880,259.85. Following the completion of the transaction, the chief executive officer now owns 292,988 shares in the company, valued at approximately $38,776,961.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

RMD traded down $3.84 on Wednesday, hitting $131.15. The company had a trading volume of 490,300 shares, compared to its average volume of 822,724. The company has a fifty day simple moving average of $126.12. ResMed Inc. has a 12-month low of $90.64 and a 12-month high of $135.45. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.06 and a quick ratio of 1.43. The stock has a market cap of $19.26 billion, a PE ratio of 36.03, a price-to-earnings-growth ratio of 3.16 and a beta of 0.47.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.03. ResMed had a return on equity of 26.49% and a net margin of 15.52%. The company had revenue of $705.00 million for the quarter, compared to analyst estimates of $701.56 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, research analysts forecast that ResMed Inc. will post 3.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.39 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.37. The ex-dividend date is Wednesday, August 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.19%. ResMed’s payout ratio is presently 40.66%.

Several hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd grew its stake in shares of ResMed by 6.1% during the second quarter. Altshuler Shaham Ltd now owns 1,539 shares of the medical equipment provider’s stock worth $642,000 after acquiring an additional 89 shares during the last quarter. Commonwealth Bank of Australia grew its stake in shares of ResMed by 6.4% during the first quarter. Commonwealth Bank of Australia now owns 1,502 shares of the medical equipment provider’s stock worth $154,000 after acquiring an additional 90 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 97 shares during the last quarter. Hartford Investment Management Co. grew its stake in shares of ResMed by 0.6% during the second quarter. Hartford Investment Management Co. now owns 15,894 shares of the medical equipment provider’s stock worth $1,940,000 after acquiring an additional 97 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of ResMed by 1.3% during the first quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the medical equipment provider’s stock worth $790,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 66.54% of the company’s stock.

Several equities analysts have issued reports on the company. Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Monday, July 8th. UBS Group upgraded ResMed from a “neutral” rating to a “buy” rating and lifted their target price for the company from $122.00 to $140.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. upgraded ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a research note on Thursday, April 18th. Finally, ValuEngine upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $121.50.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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