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

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $231.91, for a total value of $3,405,134.53. Following the sale, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ResMed Stock Up 0.5 %

Shares of RMD stock traded up $1.17 during trading hours on Wednesday, hitting $237.23. 299,855 shares of the company were exchanged, compared to its average volume of 1,040,012. 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 stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 36.26, a P/E/G ratio of 2.16 and a beta of 0.69. ResMed Inc. has a one year low of $132.24 and a one year high of $255.18. The business’s 50-day simple moving average is $235.07 and its two-hundred day simple moving average is $213.68.

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

ResMed Increases Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. KeyCorp boosted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Robert W. Baird initiated coverage on ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. Finally, Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $218.18.

Hedge Funds Weigh In On ResMed

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of 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 last quarter. Bank of New York Mellon Corp raised its stake in ResMed by 51.4% during the 2nd 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 acquiring an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of ResMed by 48.3% in the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares in the last quarter. Greenvale Capital LLP increased its holdings 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. Finally, Goldman Sachs Group Inc. raised its stake in shares of ResMed by 15.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after purchasing an additional 95,689 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

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.