ResMed (NYSE:RMD) Director Sells $502,940.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the company’s 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 transaction, the director directly owned 68,773 shares of the company’s stock, valued at $17,294,346.31. This represents a 2.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ResMed Stock Performance

Shares of NYSE:RMD traded down $0.44 during trading on Thursday, hitting $251.00. 251,113 shares of the stock were exchanged, compared to its average volume of 1,012,090. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. The company’s fifty day simple moving average is $260.07 and its 200-day simple moving average is $263.55. The company has a market capitalization of $36.63 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 1.68 and a beta of 0.87.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 EPS. Sell-side analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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 issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

RMD has been the subject of several analyst reports. Morgan Stanley set a $305.00 price target on shares of ResMed in a report on Friday, October 31st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Mizuho lowered their price target on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. UBS Group raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 16th. Finally, Robert W. Baird dropped their target price on shares of ResMed from $320.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus 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.