ResMed Inc. (NYSE:RMD) CEO Sells $1,896,290.93 in Stock

ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. This trade represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Stock Down 2.7 %

Shares of NYSE RMD traded down $6.55 on Friday, hitting $232.93. The company had a trading volume of 1,025,931 shares, compared to its average volume of 1,059,213. ResMed Inc. has a 12-month low of $170.56 and a 12-month high of $263.05. The business has a 50 day moving average of $238.51 and a two-hundred day moving average of $238.47. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $34.21 billion, a P/E ratio of 27.50, a PEG ratio of 1.57 and a beta of 0.70.

ResMed (NYSE:RMD - Get Free Report) last issued its 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 return on equity of 26.17% and a net margin of 25.34%. As a group, equities research analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's payout ratio is 25.03%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a research note on Friday, October 25th. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. KeyCorp upped their target price on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a "hold" rating and a $250.00 target price for the company. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research note on Thursday, January 16th. They issued a "buy" rating for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and a consensus target price of $244.73.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in ResMed by 0.9% in the fourth 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 during the last quarter. State Street Corp boosted its holdings in ResMed by 1.9% in the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after purchasing an additional 116,918 shares during the last quarter. Geode Capital Management LLC boosted its holdings in ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after purchasing an additional 85,270 shares during the last quarter. Invesco Ltd. boosted its holdings in ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in ResMed by 20.6% in 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 during the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

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.