ResMed Inc. (NYSE:RMD) CEO Sells $1,680,688.65 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $95,580,799.20. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

ResMed Stock Performance

Shares of NYSE RMD opened at $213.59 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The firm has a fifty day moving average price of $225.64 and a 200-day moving average price of $235.44. The stock has a market cap of $31.37 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC lifted its holdings in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new stake in ResMed in the 4th quarter worth $33,000. Itau Unibanco Holding S.A. lifted its stake in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of ResMed during the fourth quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC grew its position in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RMD shares. Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Morgan Stanley initiated coverage on ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price on the stock. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $249.73.

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.