ResMed (NYSE:RMD) CEO Sells $2,000,747.25 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 8,011 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total value of $2,000,747.25. Following the completion of the sale, the chief executive officer owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. This trade represents a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Price Performance

Shares of ResMed stock opened at $252.58 on Thursday. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $267.36 and its two-hundred day moving average price is $262.80. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The stock has a market cap of $36.86 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 1.75 and a beta of 0.87.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 30th. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed’s payout ratio is 24.56%.

Institutional Trading of ResMed

Institutional investors have recently made changes to their positions in the stock. ICW Investment Advisors LLC increased its stake in ResMed by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider’s stock valued at $2,551,000 after buying an additional 41 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of ResMed by 2.8% in the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider’s stock worth $430,000 after acquiring an additional 45 shares during the last quarter. Quadcap Wealth Management LLC raised its holdings in shares of ResMed by 2.5% during the second quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider’s stock worth $485,000 after acquiring an additional 45 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in ResMed by 3.9% during the first quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider’s stock valued at $269,000 after purchasing an additional 46 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its position in ResMed by 2.8% during the first quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider’s stock valued at $385,000 after purchasing an additional 47 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 1st. Wall Street Zen lowered ResMed from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Mizuho reduced their target price on ResMed from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 31st. CLSA upgraded ResMed from a “hold” rating to an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $297.45.

ResMed Company Profile

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.