Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells $491,300.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

ResMed Trading Up 0.8 %

Shares of RMD stock opened at $241.41 on Friday. The firm has a fifty day moving average of $242.30 and a 200-day moving average of $226.52. The stock has a market cap of $35.44 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 1.79 and a beta of 0.68. ResMed Inc. has a 52-week low of $162.05 and a 52-week high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 earnings per share. On average, equities research analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is 28.08%.

Institutional Trading of ResMed

A number of large investors have recently bought and sold shares of RMD. Bank of New York Mellon Corp boosted its stake in shares of ResMed by 51.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Marshall Wace LLP bought a new position in ResMed during the 2nd quarter valued at about $77,285,000. Geode Capital Management LLC boosted its position in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares in the last quarter. Greenvale Capital LLP grew its stake in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after buying an additional 275,000 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock worth $69,281,000 after buying an additional 249,454 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on RMD shares. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. Finally, Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $225.70.

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.