ResMed (NYSE:RMD) CEO Michael Farrell Sells 4,991 Shares

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at $115,837,766.58. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ResMed Stock Up 1.1%

RMD stock opened at $250.90 on Friday. The company has a current ratio of 2.89, a quick ratio of 2.13 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $248.33 and its 200 day moving average price is $263.17. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The company has a market cap of $36.62 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.67 and a beta of 0.88.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.20 EPS. On average, research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, November 13th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, November 13th. ResMed’s dividend payout ratio is presently 24.56%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Citigroup started coverage on shares of ResMed in a report on Thursday, September 18th. They set a “buy” rating and a $330.00 price objective on the stock. Mizuho reduced their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Stifel Nicolaus dropped their price target on ResMed from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Robert W. Baird restated a “neutral” rating and issued a $275.00 price objective (down from $300.00) on shares of ResMed in a report on Tuesday, December 16th. Finally, Baird R W downgraded shares of ResMed from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $296.09.

Institutional Investors Weigh In On ResMed

A number of large investors have recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its stake in shares of ResMed by 2.7% during the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 57 shares during the last quarter. Maridea Wealth Management LLC acquired a new stake in ResMed in the fourth quarter valued at $378,000. Nordea Investment Management AB boosted its stake in ResMed by 37.2% during the 4th quarter. Nordea Investment Management AB now owns 1,084,996 shares of the medical equipment provider’s stock valued at $262,027,000 after acquiring an additional 294,124 shares during the last quarter. Occidental Asset Management LLC increased its position in shares of ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock worth $409,000 after purchasing an additional 49 shares during the last quarter. Finally, Sagespring Wealth Partners LLC raised its stake in shares of ResMed by 12.0% in the 4th quarter. Sagespring Wealth Partners LLC now owns 2,269 shares of the medical equipment provider’s stock valued at $546,000 after purchasing an additional 243 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.