Insider Selling: ResMed Inc. (NYSE:RMD) CEO Sells 8,009 Shares of Stock

ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total transaction of $1,835,662.80. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $104,394,182.40. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

ResMed Stock Down 4.5 %

Shares of NYSE:RMD traded down $10.76 during trading hours on Tuesday, hitting $225.87. The company's stock had a trading volume of 413,077 shares, compared to its average volume of 979,182. The firm's fifty day moving average price is $236.86 and its 200 day moving average price is $240.13. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a market capitalization of $33.17 billion, a price-to-earnings ratio of 26.67, a P/E/G ratio of 1.53 and a beta of 0.74. 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 - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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 0.94%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.

Institutional Investors Weigh In On ResMed

A number of hedge funds and other institutional investors have recently bought and sold shares of RMD. Vanguard Group Inc. increased its stake in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after purchasing an additional 160,590 shares in the last quarter. State Street Corp raised its holdings in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after purchasing an additional 116,918 shares during the period. Geode Capital Management LLC raised its stake in shares of ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after buying an additional 85,270 shares during the period. Invesco Ltd. raised its position in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after acquiring an additional 566,046 shares during the period. Finally, Northern Trust Corp lifted its holdings in ResMed by 20.6% during the fourth quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

Wall Street Analyst Weigh In

RMD has been the topic of several recent research reports. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. Finally, StockNews.com lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Friday. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $243.82.

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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.

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