Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells 2,000 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now owns 75,218 shares in the company, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Stock Performance

Shares of NYSE RMD opened at $225.08 on Friday. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a 50 day simple moving average of $236.72 and a 200-day simple moving average of $239.80. The company has a market cap of $33.06 billion, a PE ratio of 26.57, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a dividend yield of 0.94%. ResMed’s dividend payout ratio is currently 25.03%.

Institutional Trading of ResMed

Large investors have recently added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the period. Colonial Trust Co SC boosted its holdings in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed in the third quarter worth $34,000. Optiver Holding B.V. bought a new stake in ResMed in the fourth quarter worth $33,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 150 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus reduced their price target on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. KeyCorp increased their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $243.82.

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.