ResMed (NYSE:RMD) Director Peter Farrell Sells 2,000 Shares

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $260.22, for a total transaction of $520,440.00. Following the completion of the sale, the director directly owned 62,773 shares in the company, valued at approximately $16,334,790.06. The trade was a 3.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

ResMed Price Performance

Shares of RMD traded down $6.26 during trading hours on Thursday, reaching $252.79. The company had a trading volume of 470,247 shares, compared to its average volume of 1,094,212. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The firm has a 50 day simple moving average of $254.84 and a 200-day simple moving average of $260.47. The company has a market capitalization of $36.83 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.71 and a beta of 0.88.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.43 earnings per share. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

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

Hedge Funds Weigh In On ResMed

Large investors have recently bought and sold shares of the stock. Quadcap Wealth Management LLC raised its holdings in shares of ResMed by 2.5% in the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after purchasing an additional 45 shares during the period. Terra Nova Asset Management LLC raised its holdings in ResMed by 0.6% in the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after buying an additional 46 shares during the period. NBT Bank N A NY lifted its position in ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider’s stock valued at $69,000 after buying an additional 47 shares in the last quarter. OFI Invest Asset Management grew its stake in ResMed by 10.4% during the third quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider’s stock worth $139,000 after buying an additional 48 shares during the period. Finally, IMA Advisory Services Inc. grew its stake in ResMed by 52.7% during the third quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RMD shares. Wall Street Zen upgraded ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. Wells Fargo & Company increased their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. KeyCorp reissued an “overweight” rating and issued a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. Citigroup raised their price target on shares of ResMed from $330.00 to $345.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $299.27.

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.