ResMed (NYSE:RMD) Director Peter Farrell Sells 970 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 970 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $234.73, for a total transaction of $227,688.10. Following the transaction, the director owned 51,803 shares of the company’s stock, valued at $12,159,718.19. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Down 0.4%

Shares of NYSE RMD opened at $228.25 on Friday. The firm’s 50-day moving average is $215.51 and its two-hundred day moving average is $218.22. The company has a market capitalization of $32.93 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $284.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same period last year, the company posted $2.55 EPS. The company’s revenue was up 8.6% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be issued a $0.66 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. ResMed’s payout ratio is currently 25.31%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMD. UBS Group reissued a “buy” rating and issued a $300.00 price target on shares of ResMed in a research note on Tuesday, July 21st. Jefferies Financial Group dropped their price objective on shares of ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a research note on Friday, July 10th. Rothschild & Co Redburn began coverage on shares of ResMed in a research report on Wednesday, August 19th. They set a “neutral” rating and a $230.00 price target for the company. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Citigroup reaffirmed a “neutral” rating and set a $235.00 price target (down from $270.00) on shares of ResMed in a research note on Sunday, July 12th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed currently has a consensus rating of “Hold” and an average target price of $240.31.

Hedge Funds Weigh In On ResMed

A number of large investors have recently modified their holdings of the company. 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. Kera Capital Partners Inc. increased its position in shares of ResMed by 6.6% in the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 52 shares in the last quarter. Andina Capital Management LLC increased its position in shares of ResMed by 2.9% in the fourth quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after acquiring an additional 56 shares in the last quarter. Turtle Creek Wealth Advisors LLC raised its stake in shares of ResMed by 6.2% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock valued at $223,000 after acquiring an additional 58 shares during the period. Finally, Inspire Investing LLC raised its stake in shares of ResMed by 7.9% in the 4th quarter. Inspire Investing LLC now owns 902 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 66 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.