ResMed Inc. (NYSE:RMD) Director Sells $439,480.00 in Stock

ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the sale, the director now owns 73,218 shares in the company, valued at $16,088,923.32. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

ResMed Stock Up 5.9 %

RMD stock traded up $12.16 during mid-day trading on Wednesday, reaching $216.70. The company had a trading volume of 1,771,877 shares, compared to its average volume of 1,015,852. The firm has a fifty day simple moving average of $228.02 and a 200 day simple moving average of $236.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The company has a market capitalization of $31.83 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data 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%. Analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

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ResMed Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.

Institutional Investors Weigh In On ResMed

A number of large investors have recently bought and sold shares of the stock. ST Germain D J Co. Inc. lifted its position in ResMed by 1.0% during the first quarter. ST Germain D J Co. Inc. now owns 94,010 shares of the medical equipment provider's stock worth $21,044,000 after buying an additional 961 shares during the period. Czech National Bank increased its position in ResMed by 6.0% during the first quarter. Czech National Bank now owns 33,733 shares of the medical equipment provider's stock worth $7,551,000 after purchasing an additional 1,904 shares during the last quarter. Rhumbline Advisers raised its stake in ResMed by 3.8% during the first quarter. Rhumbline Advisers now owns 306,459 shares of the medical equipment provider's stock worth $68,601,000 after purchasing an additional 11,324 shares during the period. Fifth Third Wealth Advisors LLC grew its stake in shares of ResMed by 9.0% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,415 shares of the medical equipment provider's stock valued at $317,000 after buying an additional 117 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of ResMed by 23,982.6% in the 1st quarter. GAMMA Investing LLC now owns 733,556 shares of the medical equipment provider's stock worth $164,207,000 after buying an additional 730,510 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on RMD shares. Stifel Nicolaus reduced their price target on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group raised ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Morgan Stanley began coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 target price for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $249.73.

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.