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

ResMed Inc. (NYSE:RMDGet Free Report) 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:RMDGet Free Report) 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.

Get Our Latest Stock Analysis on RMD

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

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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.

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