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 company’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 transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

ResMed Price Performance

NYSE RMD traded down $1.49 during trading hours on Tuesday, reaching $237.07. The company’s stock had a trading volume of 251,367 shares, compared to its average volume of 985,928. The firm’s 50-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 1 year low of $170.56 and a 1 year high of $263.05. The company has a market capitalization of $34.82 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts predict that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is 25.03%.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently made changes to their positions in RMD. Peak Financial Advisors LLC purchased a new stake in ResMed in the fourth quarter valued at about $2,972,000. Principal Financial Group Inc. raised its stake in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock valued at $45,596,000 after buying an additional 5,284 shares during the last quarter. Spire Wealth Management raised its stake in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock valued at $2,470,000 after buying an additional 1,100 shares during the last quarter. Retireful LLC purchased a new stake in ResMed in the third quarter valued at about $742,000. Finally, Asset Management One Co. Ltd. raised its stake in ResMed by 5.1% in the third quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider’s stock valued at $14,369,000 after buying an additional 2,878 shares during the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 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 issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

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.