ResMed Inc. (NYSE:RMD) CEO Sells $1,835,662.80 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at approximately $104,394,182.40. This trade represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ResMed Stock Down 2.5 %

Shares of RMD stock opened at $220.09 on Thursday. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The stock’s fifty day moving average price is $236.63 and its 200 day moving average price is $239.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s payout ratio is presently 25.03%.

Institutional Trading of ResMed

Large investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in ResMed by 285.1% during the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock valued at $136,000 after purchasing an additional 439 shares during the last quarter. Peak Financial Advisors LLC purchased a new stake in ResMed during the 4th quarter valued at about $2,972,000. Principal Financial Group Inc. boosted its stake in shares of ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares during the last quarter. Retireful LLC purchased a new stake in shares of ResMed in the third quarter worth about $742,000. Finally, Spire Wealth Management boosted its stake in shares of ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after buying an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on RMD. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Company Profile

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.