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

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $104,394,182.40. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Down 0.4 %

Shares of NYSE RMD opened at $219.31 on Friday. The stock has a market capitalization of $32.21 billion, a P/E ratio of 25.89, a PEG ratio of 1.53 and a beta of 0.74. The stock’s fifty day moving average is $236.44 and its 200 day moving average is $239.84. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RMD shares. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, Stifel Nicolaus cut their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently modified their holdings of RMD. Menard Financial Group LLC acquired a new stake in ResMed in the fourth quarter valued at about $98,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ResMed in the fourth quarter worth about $19,540,000. ABLE Financial Group LLC boosted its stake in shares of ResMed by 2.8% in the 4th quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider’s stock valued at $604,000 after purchasing an additional 72 shares in the last quarter. Forum Financial Management LP bought a new stake in shares of ResMed during the 4th quarter valued at approximately $273,000. Finally, Toronto Dominion Bank increased its position in ResMed by 4.3% during the 4th quarter. Toronto Dominion Bank now owns 51,349 shares of the medical equipment provider’s stock worth $11,743,000 after purchasing an additional 2,099 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. 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.