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

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 $115,290,296.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

ResMed Stock Performance

Shares of ResMed stock opened at $252.82 on Wednesday. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $255.18. The stock’s fifty day moving average price is $218.37 and its 200-day moving average price is $205.73. The firm has a market cap of $37.15 billion, a P/E ratio of 38.84, a P/E/G ratio of 2.44 and a beta of 0.69. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts expect that ResMed Inc. will post 8.91 earnings per share for the current fiscal year.

ResMed Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Trading of ResMed

Several hedge funds and other institutional investors have recently bought and sold shares of RMD. Vanguard Group Inc. lifted its stake in shares of ResMed by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock worth $3,052,229,000 after purchasing an additional 173,635 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares in the last quarter. Norges Bank purchased a new stake in shares of ResMed during the fourth quarter valued at about $233,966,000. Los Angeles Capital Management LLC boosted its holdings 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 valued at $141,694,000 after buying an additional 241,195 shares in the last quarter. Finally, Greenvale Capital LLP grew its position 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 buying an additional 275,000 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

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.