ResMed (NYSE:RMD) Sets New 52-Week Low on Insider Selling

ResMed Inc. (NYSE:RMD) shares hit a new 52-week low during mid-day trading on Monday after an insider sold shares in the company. The stock traded as low as $198.61 and last traded at $199.1710, with a volume of 1072585 shares changing hands. The stock had previously closed at $206.76.

Specifically, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

A number of analysts recently commented on RMD shares. Stifel Nicolaus lifted their price objective on ResMed from $260.00 to $265.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Royal Bank Of Canada lifted their price objective on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. KeyCorp reduced their price target on ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. Wells Fargo & Company reduced their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.18.

ResMed Trading Down 3.6%

The business has a fifty day moving average price of $230.41 and a 200 day moving average price of $245.04. The company has a market capitalization of $29.03 billion, a PE ratio of 19.19, a P/E/G ratio of 1.32 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.33 and a current ratio of 3.01.

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

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s payout ratio is presently 23.14%.

Institutional Trading of ResMed

Large investors have recently bought and sold shares of the company. Imprint Wealth LLC acquired a new stake in ResMed in the third quarter valued at approximately $26,000. WFA of San Diego LLC acquired a new stake in ResMed in the second quarter valued at approximately $26,000. International Assets Investment Management LLC acquired a new stake in ResMed in the fourth quarter valued at approximately $25,000. ORG Partners LLC grew its position in ResMed by 181.6% in the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of ResMed in the third quarter worth about $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

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.