ResMed Inc. (NYSE:RMD) CEO Sells $1,680,688.65 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. This represents a 1.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

ResMed Stock Up 1.4 %

Shares of RMD opened at $213.59 on Friday. The firm has a fifty day moving average price of $225.64 and a 200-day moving average price of $235.44. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.37 billion, a P/E ratio of 25.22, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 12-month low of $172.19 and a 12-month high of $263.05.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were issued a dividend of $0.53 per share. The ex-dividend date was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.99%. ResMed’s payout ratio is currently 25.03%.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently made changes to their positions in RMD. Colonial Trust Co SC increased its stake in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 125 shares during the period. Optiver Holding B.V. bought a new position in ResMed during the 4th quarter worth about $33,000. Itau Unibanco Holding S.A. increased its position in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management bought a new stake in shares of ResMed in the 4th quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC raised its holdings in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 175 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. Morgan Stanley assumed coverage on ResMed in a report on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price for the company. Finally, The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.