ResMed (NYSE:RMD) CEO Sells $968,054.36 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $193.96, for a total transaction of $968,054.36. Following the sale, the chief executive officer owned 466,256 shares in the company, valued at approximately $90,435,013.76. This trade represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Down 0.6%

RMD stock opened at $192.41 on Friday. The company has a 50 day moving average price of $210.89 and a two-hundred day moving average price of $235.68. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01. The stock has a market capitalization of $27.91 billion, a P/E ratio of 18.55, a PEG ratio of 1.23 and a beta of 0.80. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.37 EPS. As a group, sell-side analysts expect that ResMed Inc. will post 11.13 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently modified their holdings of RMD. First Trust Advisors LP increased its position in ResMed by 240.9% during the 4th quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after purchasing an additional 1,072,394 shares in the last quarter. Norges Bank purchased a new position in ResMed in the fourth quarter valued at approximately $249,068,000. Deutsche Bank AG lifted its position in ResMed by 126.0% during the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock valued at $340,464,000 after buying an additional 787,949 shares in the last quarter. Amundi lifted its position in ResMed by 123.9% during the first quarter. Amundi now owns 1,062,184 shares of the medical equipment provider’s stock valued at $238,439,000 after buying an additional 587,872 shares in the last quarter. Finally, Morgan Stanley grew its stake in ResMed by 25.0% during the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after buying an additional 578,559 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RMD shares. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. JPMorgan Chase & Co. started coverage on shares of ResMed in a research report on Wednesday, April 15th. They issued an “overweight” rating on the stock. Robert W. Baird set a $225.00 target price on shares of ResMed in a report on Friday, May 1st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, KeyCorp cut their price target on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.18.

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.