Michael J. Farrell Sells 14,683 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ResMed Stock Performance

ResMed stock traded up $1.17 during midday trading on Wednesday, hitting $237.23. 299,855 shares of the company were exchanged, compared to its average volume of 1,040,012. The business has a fifty day simple moving average of $235.07 and a two-hundred day simple moving average of $213.68. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a market capitalization of $34.85 billion, a PE ratio of 36.26, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company earned $1.60 EPS. The business’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts forecast that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

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

Analyst Ratings Changes

RMD has been the subject of several analyst reports. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $218.18.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently modified their holdings of RMD. Vanguard Group Inc. raised its holdings in ResMed by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after purchasing an additional 173,635 shares during the period. Bank of New York Mellon Corp increased its position in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC raised its stake in shares of ResMed by 48.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after buying an additional 241,195 shares during the period. Greenvale Capital LLP lifted its position in shares of ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after buying an additional 275,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in ResMed by 15.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after acquiring an additional 95,689 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

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.