ResMed Inc. (NYSE:RMD) CEO Sells 14,683 Shares

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

ResMed Price Performance

ResMed stock opened at $237.93 on Friday. The firm has a market capitalization of $34.92 billion, a P/E ratio of 36.55, a PEG ratio of 2.11 and a beta of 0.69. ResMed Inc. has a one year low of $132.24 and a one year 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. The business has a fifty day moving average price of $235.54 and a 200-day moving average price of $213.84.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business earned $1.60 earnings per share. ResMed’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that ResMed Inc. will post 9.02 EPS for the current year.

ResMed Increases Dividend

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

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently made changes to their positions in the stock. Elo Mutual Pension Insurance Co increased its position in shares of ResMed by 4.7% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 12,841 shares of the medical equipment provider’s stock valued at $2,209,000 after purchasing an additional 573 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of ResMed by 23.4% during the fourth quarter. Neuberger Berman Group LLC now owns 7,370 shares of the medical equipment provider’s stock worth $1,268,000 after acquiring an additional 1,399 shares in the last quarter. Vista Investment Management lifted its holdings in shares of ResMed by 4.9% in the 4th quarter. Vista Investment Management now owns 5,347 shares of the medical equipment provider’s stock worth $920,000 after acquiring an additional 252 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in shares of ResMed in the 4th quarter valued at $597,000. Finally, Greenvale Capital LLP boosted its stake in shares of ResMed by 198.3% in the 4th quarter. Greenvale Capital LLP now owns 551,901 shares of the medical equipment provider’s stock valued at $94,938,000 after purchasing an additional 366,901 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RMD has been the subject of a number of research analyst reports. Robert W. Baird started coverage on ResMed in a research report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price target for the company. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Bank of America boosted their target price on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $218.18.

ResMed Company Profile

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.