ResMed (NYSE:RMD) CEO Sells $1,366,435.98 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ResMed Stock Down 5.3%

Shares of NYSE RMD opened at $245.93 on Friday. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a market cap of $35.83 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 1.72 and a beta of 0.87. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.81. The stock has a 50-day moving average price of $252.63 and a two-hundred day moving average price of $263.09.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $2.43 EPS. As a group, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, February 12th. ResMed’s payout ratio is presently 23.74%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RMD. Mizuho reduced their price objective on ResMed from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 31st. Morgan Stanley set a $305.00 price target on ResMed in a research note on Friday, October 31st. Piper Sandler upped their price objective on ResMed from $270.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. Royal Bank Of Canada raised their price objective on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Finally, Wall Street Zen raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $299.27.

Institutional Trading of ResMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. boosted its stake in shares of ResMed by 1,433.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. International Assets Investment Management LLC bought a new stake in ResMed during the fourth quarter valued at $25,000. ORG Partners LLC grew its holdings in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares during the period. Imprint Wealth LLC acquired a new stake in ResMed during the 3rd quarter worth about $26,000. Finally, WFA of San Diego LLC bought a new position in shares of ResMed in the 2nd quarter worth about $26,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.