ResMed Inc. (NYSE:RMD) Director Sells $439,480.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the sale, the director now directly owns 73,218 shares of the company’s stock, valued at approximately $16,088,923.32. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

ResMed Stock Performance

RMD opened at $204.72 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market capitalization of $30.07 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The business has a fifty day simple moving average of $230.74 and a 200 day simple moving average of $236.94. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (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%. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.04%. ResMed’s payout ratio is presently 25.03%.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently made changes to their positions in RMD. Colonial Trust Co SC grew its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of ResMed during the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. grew its holdings in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of ResMed in the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC raised its stake in ResMed by 1,750.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on RMD shares. Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating for the company. JPMorgan Chase & Co. lifted their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, April 2nd. Finally, Morgan Stanley assumed coverage on ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.73.

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.