Peter C. Farrell Sells 2,000 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now directly owns 75,218 shares in the company, valued at $17,127,890.78. This trade represents a 2.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

ResMed Stock Up 3.3 %

Shares of ResMed stock opened at $232.40 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $236.70 and its two-hundred day simple moving average is $239.81. The company has a market cap of $34.13 billion, a P/E ratio of 27.44, a PEG ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Institutional Trading of ResMed

Hedge funds have recently modified their holdings of the business. True Wealth Design LLC boosted its holdings in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed during the 4th quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the 3rd quarter valued at $34,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on RMD shares. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Piper Sandler lifted 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. The Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Stifel Nicolaus decreased their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.82.

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.