Michael J. Farrell Sells 14,683 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $115,290,296.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

ResMed Price Performance

Shares of RMD stock opened at $252.92 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The firm has a market cap of $37.16 billion, a P/E ratio of 38.85, a P/E/G ratio of 2.44 and a beta of 0.69. The business’s 50 day moving average price is $219.64 and its 200-day moving average price is $206.06.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm earned $1.60 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.84%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of ResMed by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock valued at $3,052,229,000 after purchasing an additional 173,635 shares in the last quarter. Bank of New York Mellon Corp lifted its position in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock valued at $1,105,022,000 after buying an additional 1,959,642 shares during the period. Norges Bank bought a new stake in shares of ResMed during the 4th quarter valued at $233,966,000. Los Angeles Capital Management LLC grew its position in shares of ResMed by 48.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after buying an additional 241,195 shares during the period. Finally, Greenvale Capital LLP increased its stake in shares of ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of a number of research reports. Citigroup cut shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research note on Friday, August 30th. KeyCorp raised their price target on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Needham & Company LLC cut ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a research note on Wednesday, September 4th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $204.70.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.