Michael J. Farrell Sells 14,683 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at $107,645,432.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

ResMed Price Performance

Shares of NYSE RMD opened at $237.93 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $34.92 billion, a PE ratio of 36.55, a P/E/G ratio of 2.11 and a beta of 0.69. The firm has a fifty day simple moving average of $235.54 and a 200 day simple moving average of $213.84. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company posted $1.60 EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that ResMed Inc. will post 9.02 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s payout ratio is 32.57%.

Institutional Trading of ResMed

Large investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new position in shares of ResMed during the 2nd quarter valued at $32,000. BOK Financial Private Wealth Inc. bought a new stake in ResMed in the first quarter valued at $35,000. Versant Capital Management Inc raised its holdings in shares of ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. bought a new position in shares of ResMed during the 2nd quarter worth about $37,000. Finally, Riverview Trust Co acquired a new stake in shares of ResMed in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the topic of a number of recent research reports. Robert W. Baird started coverage on ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target on the stock. Royal Bank of Canada lifted their target price on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 1st. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.18.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.