Michael J. Farrell Sells 8,009 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

ResMed Stock Down 0.4 %

Shares of RMD stock opened at $236.40 on Thursday. The stock has a market cap of $34.72 billion, a P/E ratio of 27.91, a PEG ratio of 1.57 and a beta of 0.70. The company’s fifty day simple moving average is $238.87 and its two-hundred day simple moving average is $238.30. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 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%. Analysts predict that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.90%. ResMed’s dividend payout ratio is currently 25.03%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers lifted its position in ResMed by 26.8% during the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock valued at $1,861,000 after purchasing an additional 2,053 shares during the last quarter. CWM LLC raised its position in shares of ResMed by 38.4% during the 3rd quarter. CWM LLC now owns 7,899 shares of the medical equipment provider’s stock valued at $1,928,000 after buying an additional 2,192 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of ResMed by 249.7% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,224 shares of the medical equipment provider’s stock valued at $299,000 after acquiring an additional 874 shares during the last quarter. Gateway Investment Advisers LLC grew its position in ResMed by 60.0% in the third quarter. Gateway Investment Advisers LLC now owns 5,422 shares of the medical equipment provider’s stock worth $1,324,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in ResMed during the third quarter worth approximately $119,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Piper Sandler raised their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Robert W. Baird upped their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus assumed coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, ResMed currently has an average rating of “Moderate Buy” and an average target price of $244.73.

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.