Peter Farrell Sells 2,000 Shares of ResMed (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total transaction of $520,440.00. Following the sale, the director directly owned 62,773 shares in the company, valued at $16,334,790.06. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ResMed Stock Down 2.4%

NYSE:RMD traded down $6.26 on Thursday, reaching $252.79. The stock had a trading volume of 470,247 shares, compared to its average volume of 1,094,212. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The stock has a market cap of $36.83 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $254.84 and a 200 day moving average of $260.47.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the business posted $2.43 earnings per share. ResMed’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, research analysts predict that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. ResMed’s payout ratio is presently 23.74%.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its position in shares of ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares during the period. Assetmark Inc. lifted its position in ResMed by 42.8% during the 2nd quarter. Assetmark Inc. now owns 2,056 shares of the medical equipment provider’s stock worth $531,000 after acquiring an additional 616 shares during the last quarter. Versor Investments LP boosted its holdings in ResMed by 23.2% during the second quarter. Versor Investments LP now owns 2,220 shares of the medical equipment provider’s stock valued at $573,000 after acquiring an additional 418 shares during the period. Fullcircle Wealth LLC increased its stake in shares of ResMed by 7.1% in the second quarter. Fullcircle Wealth LLC now owns 1,037 shares of the medical equipment provider’s stock worth $268,000 after purchasing an additional 69 shares during the period. Finally, Crestwood Advisors Group LLC bought a new position in shares of ResMed in the second quarter worth about $264,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RMD has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price objective on shares of ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Robert W. Baird set a $281.00 target price on ResMed in a research note on Friday, January 30th. Weiss Ratings raised shares of ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, February 9th. KeyCorp reissued an “overweight” rating and set a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Finally, Wells Fargo & Company lifted their price objective on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $299.27.

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.