ResMed Inc. (NYSE:RMD) Director Peter C. Farrell Sells 2,000 Shares

ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total value of $455,420.00. Following the completion of the sale, the director now directly owns 75,218 shares in the company, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

ResMed Price Performance

Shares of ResMed stock traded up $4.98 on Monday, reaching $237.42. The stock had a trading volume of 2,005,511 shares, compared to its average volume of 973,808. The business's 50 day moving average is $236.70 and its two-hundred day moving average is $240.04. The company has a market cap of $34.87 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, topping the consensus estimate 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, research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

Remove Ads

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. ResMed's dividend payout ratio (DPR) is presently 25.03%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RMD shares. KeyCorp raised their target price on shares of ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Finally, Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $243.82.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of ResMed by 1.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 85,507 shares of the medical equipment provider's stock worth $20,874,000 after acquiring an additional 811 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of ResMed by 2.9% in the 3rd quarter. Van ECK Associates Corp now owns 39,334 shares of the medical equipment provider's stock worth $9,338,000 after purchasing an additional 1,121 shares in the last quarter. National Pension Service increased its position in shares of ResMed by 5.0% during the 3rd quarter. National Pension Service now owns 227,655 shares of the medical equipment provider's stock valued at $55,575,000 after purchasing an additional 10,880 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of ResMed by 5.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 58,860 shares of the medical equipment provider's stock valued at $14,369,000 after buying an additional 2,878 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its stake in ResMed by 426.5% in the third quarter. QRG Capital Management Inc. now owns 6,797 shares of the medical equipment provider's stock worth $1,659,000 after buying an additional 5,506 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.