ResMed Inc. (NYSE:RMD) Director Sells $474,400.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the sale, the director now directly owns 85,204 shares of the company’s stock, valued at approximately $20,210,388.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Price Performance

Shares of NYSE RMD traded up $0.11 during mid-day trading on Wednesday, hitting $238.86. 638,989 shares of the company’s stock traded hands, compared to its average volume of 1,051,618. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed Inc. has a 1 year low of $132.24 and a 1 year high of $255.18. The company’s 50-day moving average is $232.04 and its two-hundred day moving average is $212.15. The company has a market capitalization of $35.10 billion, a P/E ratio of 36.59, a PEG ratio of 2.36 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. On average, equities analysts anticipate that ResMed Inc. will post 8.97 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed’s payout ratio is currently 32.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Robert W. Baird started coverage on ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective on the stock. Bank of America raised their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. Royal Bank of Canada raised their price target on ResMed from $206.00 to $224.00 and gave the company a “sector perform” rating in a report on Tuesday. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $213.75.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of ResMed by 3.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 65,570 shares of the medical equipment provider’s stock valued at $16,007,000 after buying an additional 2,454 shares during the period. Sanctuary Advisors LLC purchased a new stake in ResMed in the second quarter worth $1,162,000. Dana Investment Advisors Inc. bought a new stake in shares of ResMed during the second quarter worth $4,728,000. Cetera Investment Advisers lifted its position in shares of ResMed by 26.8% during the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after purchasing an additional 2,053 shares during the last quarter. Finally, Greenvale Capital LLP boosted its stake in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.