ResMed Inc. (NYSE:RMD) CEO Sells $3,405,134.53 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred 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 directly owns 464,169 shares of the company’s stock, valued at $107,645,432.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Trading Up 0.5 %

Shares of NYSE RMD traded up $1.17 during mid-day trading on Wednesday, reaching $237.23. 299,855 shares of the company’s stock were exchanged, compared to its average volume of 1,040,012. The company’s 50-day moving average is $235.07 and its 200-day moving average is $213.68. 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 quick ratio of 1.69 and a current ratio of 2.59. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 36.26, a PEG ratio of 2.16 and a beta of 0.69.

ResMed (NYSE:RMD) last announced its earnings results 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 return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts expect that ResMed Inc. will post 9.02 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, August 15th. ResMed’s payout ratio is currently 32.57%.

Institutional Trading of ResMed

Hedge funds have recently made changes to their positions in the business. UMB Bank n.a. lifted its holdings in ResMed by 1.9% during the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after buying an additional 47 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in ResMed by 3.7% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 52 shares during the period. QRG Capital Management Inc. increased its holdings in ResMed by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares during the period. Inspire Advisors LLC raised its position in ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 56 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock valued at $631,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Royal Bank of Canada boosted their price target on ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research report on Tuesday, October 1st. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Robert W. Baird assumed coverage on shares of ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target on the stock. Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

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.