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

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Performance

RMD stock opened at $216.95 on Friday. The company has a market capitalization of $31.87 billion, a price-to-earnings ratio of 33.32, a P/E/G ratio of 2.68 and a beta of 0.64. The firm has a 50 day moving average of $193.54 and a two-hundred day moving average of $176.56. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $237.26.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business posted $1.68 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.92 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio (DPR) is currently 29.49%.

Hedge Funds Weigh In On ResMed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. lifted its position in ResMed by 52.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,442 shares of the medical equipment provider’s stock worth $805,000 after acquiring an additional 1,863 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in ResMed by 11.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,017 shares of the medical equipment provider’s stock valued at $7,692,000 after purchasing an additional 5,457 shares during the period. IFM Investors Pty Ltd grew its holdings in ResMed by 3.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,262 shares of the medical equipment provider’s stock valued at $4,327,000 after buying an additional 914 shares during the last quarter. Park Avenue Securities LLC bought a new position in ResMed in the 3rd quarter worth approximately $248,000. Finally, Inspire Advisors LLC lifted its holdings in shares of ResMed by 20.2% during the third quarter. Inspire Advisors LLC now owns 1,553 shares of the medical equipment provider’s stock worth $230,000 after buying an additional 261 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on RMD. Oppenheimer cut their target price on shares of ResMed from $205.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Royal Bank of Canada increased their price objective on ResMed from $187.00 to $200.00 and gave the stock a “sector perform” rating in a research note on Friday, April 26th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. KeyCorp raised their price target on shares of ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, UBS Group upped their price objective on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, January 25th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $202.80.

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.