ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 8,009 Shares of Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

ResMed Price Performance

Shares of RMD opened at $237.45 on Wednesday. ResMed Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The stock has a market cap of $34.87 billion, a PE ratio of 28.03, a P/E/G ratio of 1.57 and a beta of 0.70. The firm has a 50-day simple moving average of $239.06 and a two-hundred day simple moving average of $238.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, analysts forecast that ResMed Inc. will post 9.44 EPS for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RMD shares. Piper Sandler raised their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada raised their price objective on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $244.73.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMD. True Wealth Design LLC grew its holdings in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of ResMed in the third quarter valued at approximately $34,000. OFI Invest Asset Management acquired a new position in shares of ResMed in the fourth quarter valued at approximately $39,000. BankPlus Trust Department acquired a new position in shares of ResMed in the fourth quarter valued at approximately $44,000. Finally, Rosenberg Matthew Hamilton acquired a new position in shares of ResMed in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Company Profile

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.