ResMed (NYSE:RMD) CEO Michael Farrell Sells 4,993 Shares of Company Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,993 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $235.35, for a total value of $1,175,102.55. Following the transaction, the chief executive officer owned 479,803 shares of the company’s stock, valued at approximately $112,921,636.05. The trade was a 1.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Trading Up 0.2%

Shares of NYSE RMD opened at $238.96 on Friday. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $277.67. The business has a fifty day simple moving average of $231.99 and a two-hundred day simple moving average of $224.50. The firm has a market cap of $33.61 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The company has a quick ratio of 1.88, a current ratio of 2.65 and a debt-to-equity ratio of 0.04.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.24. ResMed had a return on equity of 26.42% and a net margin of 27.79%. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned $2.55 earnings per share. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 12.14 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. ResMed’s dividend payout ratio is presently 24.04%.

Hedge Funds Weigh In On ResMed

Several hedge funds have recently made changes to their positions in the company. Meeder Advisory Services Inc. lifted its holdings in ResMed by 16.5% in the third quarter. Meeder Advisory Services Inc. now owns 2,642 shares of the medical equipment provider’s stock valued at $584,000 after acquiring an additional 374 shares during the period. First Trust Advisors LP grew its stake in shares of ResMed by 18.0% during the 3rd quarter. First Trust Advisors LP now owns 2,688,777 shares of the medical equipment provider’s stock worth $594,489,000 after purchasing an additional 410,081 shares during the period. Allianz SE grew its stake in shares of ResMed by 533.3% during the 3rd quarter. Allianz SE now owns 988 shares of the medical equipment provider’s stock worth $218,000 after purchasing an additional 832 shares during the period. Advisors Asset Management Inc. purchased a new position in shares of ResMed during the 3rd quarter valued at approximately $2,831,000. Finally, Voya Investment Management LLC increased its holdings in shares of ResMed by 0.5% during the 3rd quarter. Voya Investment Management LLC now owns 33,766 shares of the medical equipment provider’s stock valued at $7,466,000 after purchasing an additional 166 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RMD shares. Rothschild & Co Redburn initiated coverage on ResMed in a research report on Wednesday, August 19th. They issued a “neutral” rating and a $230.00 price objective for the company. Canaccord Genuity Group lowered ResMed from a “buy” rating to a “hold” rating in a research report on Monday, November 2nd. Robert W. Baird set a $213.00 price target on ResMed in a research note on Friday, August 7th. UBS Group reissued a “buy” rating and issued a $300.00 price target on shares of ResMed in a report on Tuesday, July 21st. Finally, Citigroup upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Seven investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Hold” and an average price target of $253.69.

About ResMed

ResMed is a medical technology company that develops products and software for people with sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its devices include continuous positive airway pressure (CPAP) and bilevel machines, ventilators and related masks and accessories. The company also provides cloud-connected software for managing sleep and respiratory care, along with digital tools used by home medical equipment providers and post-acute care organizations.