Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells 2,000 Shares of Stock

ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

ResMed Stock Performance

NYSE:RMD traded down $0.34 during midday trading on Friday, reaching $236.84. The stock had a trading volume of 830,561 shares, compared to its average volume of 1,059,213. The stock has a market capitalization of $34.78 billion, a P/E ratio of 27.96, a PEG ratio of 1.57 and a beta of 0.70. 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 Inc. has a 1-year low of $170.56 and a 1-year high of $263.05. The firm's fifty day simple moving average is $239.18 and its 200-day simple moving average is $237.59.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that ResMed Inc. will post 9.44 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently modified their holdings of RMD. Geode Capital Management LLC raised its stake in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after purchasing an additional 380,383 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock valued at $152,973,000 after buying an additional 250,746 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in shares of ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock valued at $69,281,000 after buying an additional 249,454 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of ResMed in the fourth quarter valued at about $50,364,000. Finally, Nordea Investment Management AB grew its position in ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after buying an additional 215,561 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, January 31st. Royal Bank of Canada boosted their target price on ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Stifel Nicolaus began coverage on ResMed in a research note on Friday, December 13th. They set a "hold" rating and a $250.00 price target for the company. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Finally, The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $244.73.

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.