Insider Selling: ResMed (NYSE:RMD) CEO Sells $1,366,435.98 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ResMed Trading Down 2.6%

Shares of NYSE:RMD traded down $7.08 during mid-day trading on Tuesday, hitting $268.88. The company had a trading volume of 886,850 shares, compared to its average volume of 1,124,278. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. ResMed Inc. has a one year low of $199.92 and a one year high of $293.81. The firm has a fifty day moving average price of $252.33 and a 200 day moving average price of $263.32. The company has a market capitalization of $39.17 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.80 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the company posted $2.43 earnings per share. The business’s quarterly revenue was up 11.0% on a year-over-year basis. As a group, research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s dividend payout ratio is 23.74%.

Analysts Set New Price Targets

RMD has been the subject of several recent research reports. Stifel Nicolaus boosted their price objective on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Citigroup boosted their price target on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of ResMed in a report on Monday, December 29th. Finally, UBS Group reissued a “buy” rating and set a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average price target of $299.27.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently made changes to their positions in the company. Entropy Technologies LP boosted its holdings in shares of ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock worth $4,227,000 after purchasing an additional 10,708 shares during the period. Quantbot Technologies LP raised its position in ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock valued at $9,380,000 after purchasing an additional 25,810 shares during the last quarter. Nordea Investment Management AB lifted its holdings in ResMed by 3.5% in the 3rd quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock worth $217,387,000 after buying an additional 26,629 shares during the period. Allianz Asset Management GmbH grew its position in shares of ResMed by 44.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider’s stock worth $97,837,000 after buying an additional 110,647 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of ResMed by 0.7% during the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock valued at $45,382,000 after buying an additional 1,183 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

About ResMed

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.