ResMed Inc. (NYSE:RMD) Director Peter C. Farrell Sells 2,000 Shares

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the transaction, the director now directly owns 85,204 shares in the company, valued at approximately $20,210,388.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Performance

NYSE:RMD traded up $0.11 during trading hours on Wednesday, hitting $238.86. 638,989 shares of the company were exchanged, compared to its average volume of 1,051,618. The company’s 50 day moving average price is $232.04 and its 200-day moving average price is $212.15. The stock has a market capitalization of $35.10 billion, a price-to-earnings ratio of 36.59, a PEG ratio of 2.36 and a beta of 0.69. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. ResMed’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.60 EPS. As a group, research analysts forecast that ResMed Inc. will post 8.97 earnings per share for the current year.

ResMed Increases Dividend

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

Wall Street Analyst Weigh In

RMD has been the subject of several recent research reports. Bank of America lifted their price objective on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. KeyCorp upped their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $213.75.

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after buying an additional 35,273 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of ResMed in the 1st quarter valued at about $2,246,000. Janney Montgomery Scott LLC raised its holdings in ResMed by 5.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after purchasing an additional 4,075 shares during the period. Los Angeles Capital Management LLC boosted its position in ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after purchasing an additional 485,540 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in ResMed in the fourth quarter valued at approximately $7,535,000. 54.98% of the stock is owned by institutional investors and hedge funds.

About ResMed

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.