ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 8,009 Shares

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ResMed Stock Down 0.6 %

RMD stock traded down $1.49 during midday trading on Tuesday, reaching $237.07. 251,367 shares of the company’s stock traded hands, compared to its average volume of 985,928. The company has a market cap of $34.82 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.57 and a beta of 0.70. The firm’s fifty day moving average price is $239.06 and its 200-day moving average price is $238.02. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $170.56 and a 52 week high of $263.05.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on RMD shares. Royal Bank of Canada boosted their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They issued a “buy” rating for the company. Robert W. Baird upped their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Finally, KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $244.73.

Hedge Funds Weigh In On ResMed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. lifted its holdings in ResMed by 300.5% during the fourth quarter. Sei Investments Co. now owns 153,525 shares of the medical equipment provider’s stock valued at $35,110,000 after purchasing an additional 115,192 shares during the last quarter. Mizuho Securities USA LLC lifted its holdings in ResMed by 46.0% during the fourth quarter. Mizuho Securities USA LLC now owns 13,913 shares of the medical equipment provider’s stock valued at $3,182,000 after purchasing an additional 4,385 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ResMed during the fourth quarter valued at about $904,000. Summit Global Investments purchased a new stake in ResMed during the fourth quarter valued at about $290,000. Finally, Semanteon Capital Management LP lifted its holdings in ResMed by 5.0% during the fourth quarter. Semanteon Capital Management LP now owns 5,140 shares of the medical equipment provider’s stock valued at $1,175,000 after purchasing an additional 243 shares during the last quarter. 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. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.