ResMed (NYSE:RMD) Director Sells $450,000.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Trading Up 0.1%

Shares of NYSE RMD opened at $224.23 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.06 and a quick ratio of 2.32. The stock has a market capitalization of $32.67 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.49 and a beta of 0.93. ResMed Inc. has a 1-year low of $199.92 and a 1-year high of $293.81. The business has a fifty day moving average price of $246.52 and a 200 day moving average price of $253.28.

ResMed (NYSE:RMD) last announced its earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.43 earnings per share. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed’s payout ratio is currently 23.74%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada upped their price target on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Wells Fargo & Company raised their price target on shares of ResMed from $265.00 to $270.00 and gave the stock an “equal weight” rating in a report on Friday, January 30th. Weiss Ratings downgraded shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Finally, Robert W. Baird set a $281.00 price objective on shares of ResMed in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $299.27.

Institutional Investors Weigh In On ResMed

Several institutional investors have recently bought and sold shares of the company. SJS Investment Consulting Inc. increased its stake in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 86 shares in the last quarter. International Assets Investment Management LLC purchased a new position in ResMed in the 4th quarter worth approximately $25,000. ORG Partners LLC lifted its stake in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Imprint Wealth LLC acquired a new position in shares of ResMed during the 3rd quarter worth approximately $26,000. Finally, WFA of San Diego LLC acquired a new position in shares of ResMed during the 2nd quarter worth approximately $26,000. 54.98% of the stock is currently 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.