Insider Selling: ResMed (NYSE:RMD) Director Sells $227,688.10 in Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 970 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $234.73, for a total transaction of $227,688.10. Following the completion of the sale, the director owned 51,803 shares in the company, valued at approximately $12,159,718.19. The trade was a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Price Performance

RMD stock opened at $228.25 on Monday. The stock has a market cap of $32.93 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. The company has a 50 day simple moving average of $215.51 and a 200 day simple moving average of $217.98. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $284.87.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.55 earnings per share. Research analysts anticipate that ResMed Inc. will post 12.02 EPS for the current fiscal year.

ResMed Increases Dividend

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

Institutional Investors Weigh In On ResMed

Large investors have recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in ResMed in the fourth quarter valued at $25,000. Bell Investment Advisors Inc bought a new position in shares of ResMed in the 2nd quarter worth about $26,000. Imprint Wealth LLC acquired a new position in shares of ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in shares of ResMed in the 2nd quarter valued at about $26,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of ResMed during the 3rd quarter valued at about $31,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Rothschild & Co Redburn initiated coverage on ResMed in a report on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 target price for the company. Morgan Stanley restated an “equal weight” rating and set a $230.00 price target (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Wells Fargo & Company lowered their price objective on ResMed from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Friday, August 7th. The Goldman Sachs Group reiterated a “buy” rating on shares of ResMed in a research report on Wednesday, July 1st. Finally, Mizuho reduced their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $240.31.

ResMed Company Profile

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.