Insider Selling: ResMed Inc. (NYSE:RMD) CEO Sells $1,835,662.80 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $104,394,182.40. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ResMed Stock Performance

RMD opened at $219.31 on Friday. The company has a market capitalization of $32.21 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.53 and a beta of 0.74. The business’s 50-day moving average price is $236.44 and its two-hundred day moving average price is $239.84. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its earnings results 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 return on equity of 26.17% and a net margin of 25.34%. Equities analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. True Wealth Design LLC boosted its stake 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 worth $28,000 after buying an additional 110 shares during the last quarter. Colonial Trust Co SC raised its holdings in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new position in ResMed during the fourth quarter valued at approximately $33,000. Ashton Thomas Securities LLC bought a new position in ResMed in the third quarter valued at approximately $34,000. Finally, Itau Unibanco Holding S.A. increased its position 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 worth $38,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RMD shares. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Piper Sandler raised their target price on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.