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 dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value 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 legal filing with the SEC, which is available at this hyperlink.

ResMed Stock Performance

Shares of ResMed stock traded up $11.05 during trading on Wednesday, hitting $215.59. 437,085 shares of the stock were exchanged, compared to its average volume of 1,010,484. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The stock has a market capitalization of $31.66 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company has a fifty day moving average price of $228.02 and a 200-day moving average price of $236.22. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 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%. As a group, equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently modified their holdings of RMD. Janus Henderson Group PLC lifted its stake in ResMed by 1.9% in the 3rd quarter. Janus Henderson Group PLC now owns 16,160 shares of the medical equipment provider’s stock valued at $3,943,000 after purchasing an additional 296 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of ResMed by 8.7% during the 3rd quarter. Stifel Financial Corp now owns 57,359 shares of the medical equipment provider’s stock valued at $14,004,000 after acquiring an additional 4,611 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of ResMed during the 3rd quarter valued at $475,000. Wellington Management Group LLP increased its holdings in ResMed by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider’s stock worth $14,629,000 after purchasing an additional 15,772 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of ResMed by 15.7% during the third quarter. EP Wealth Advisors LLC now owns 2,321 shares of the medical equipment provider’s stock worth $567,000 after purchasing an additional 315 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RMD shares. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. Piper Sandler raised their price target on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, KeyCorp upped their price objective on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.