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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

ResMed Stock Down 3.1%

Shares of RMD stock opened at $232.64 on Friday. The firm has a fifty day moving average of $255.32 and a 200-day moving average of $258.93. The company has a quick ratio of 2.32, a current ratio of 3.06 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 company has a market capitalization of $33.89 billion, a price-to-earnings ratio of 23.01, a P/E/G ratio of 1.59 and a beta of 0.88.

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

ResMed Dividend Announcement

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 issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s payout ratio is 23.74%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RMD shares. KeyCorp reiterated an “overweight” rating and set a $302.00 price objective on shares of ResMed in a report on Friday, January 30th. Weiss Ratings raised ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, February 9th. Royal Bank Of Canada raised their price target on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Piper Sandler lifted their price objective on shares of ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, January 30th. Finally, Stifel Nicolaus boosted their price objective on shares of ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, ResMed currently has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Corient Private Wealth LLC increased its position in shares of ResMed by 3.0% during the 4th quarter. Corient Private Wealth LLC now owns 87,798 shares of the medical equipment provider’s stock worth $21,149,000 after purchasing an additional 2,560 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of ResMed by 17.6% in the 4th quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock valued at $79,321,000 after buying an additional 49,253 shares during the last quarter. Employees Provident Fund Board acquired a new stake in shares of ResMed in the 4th quarter valued at approximately $86,256,000. Reflection Asset Management bought a new position in shares of ResMed in the fourth quarter valued at $34,000. Finally, Pacer Advisors Inc. grew its stake in shares of ResMed by 268.6% in the fourth quarter. Pacer Advisors Inc. now owns 479,912 shares of the medical equipment provider’s stock valued at $115,596,000 after buying an additional 349,713 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

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.