Insider Selling: ResMed Inc. (NYSE:RMD) CEO Sells 14,683 Shares of Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the transaction, the chief executive officer now owns 464,169 shares in the company, valued at approximately $107,645,432.79. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

ResMed Stock Performance

RMD stock traded up $1.17 during trading on Wednesday, reaching $237.23. 299,855 shares of the stock were exchanged, compared to its average volume of 1,040,012. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18. The company has a market capitalization of $34.85 billion, a P/E ratio of 36.26, a price-to-earnings-growth ratio of 2.16 and a beta of 0.69. The stock has a 50 day simple moving average of $235.07 and a 200-day simple moving average of $213.68. 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 issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 earnings per share. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.02 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s dividend payout ratio is presently 32.57%.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently made changes to their positions in RMD. Elo Mutual Pension Insurance Co grew its stake in shares of ResMed by 4.7% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 12,841 shares of the medical equipment provider’s stock valued at $2,209,000 after purchasing an additional 573 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in ResMed by 23.4% during the 4th quarter. Neuberger Berman Group LLC now owns 7,370 shares of the medical equipment provider’s stock worth $1,268,000 after purchasing an additional 1,399 shares during the last quarter. Vista Investment Management boosted its stake in shares of ResMed by 4.9% in the 4th quarter. Vista Investment Management now owns 5,347 shares of the medical equipment provider’s stock valued at $920,000 after purchasing an additional 252 shares during the last quarter. Bridgefront Capital LLC acquired a new stake in shares of ResMed during the 4th quarter worth approximately $597,000. Finally, Greenvale Capital LLP lifted its holdings in ResMed by 198.3% in the fourth quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock valued at $94,938,000 after buying an additional 366,901 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RMD has been the subject of a number of research analyst reports. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Bank of America upped their price target on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Royal Bank of Canada raised their price objective on ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Tuesday, October 1st. Finally, Robert W. Baird started coverage on ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

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.