ResMed (NYSE:RMD) CEO Michael Farrell Sells 4,991 Shares

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total value of $968,054.36. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. This represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Performance

RMD stock opened at $196.75 on Wednesday. The firm has a market cap of $28.54 billion, a PE ratio of 18.97, a P/E/G ratio of 1.23 and a beta of 0.80. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average of $212.06 and a 200-day moving average of $236.44. ResMed Inc. has a 12-month low of $180.26 and a 12-month high of $293.81.

ResMed (NYSE:RMD) last released its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a return on equity of 25.35% and a net margin of 27.44%.ResMed’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.37 earnings per share. As a group, sell-side analysts expect that ResMed Inc. will post 11.13 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Thursday, May 14th. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. ResMed’s dividend payout ratio is currently 23.14%.

Analysts Set New Price Targets

Several brokerages have weighed in on RMD. KeyCorp reduced their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a report on Monday, April 27th. Evercore set a $255.00 price objective on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. JPMorgan Chase & Co. began coverage on ResMed in a report on Wednesday, April 15th. They set an “overweight” rating for the company. Robert W. Baird set a $225.00 price objective on ResMed in a report on Friday, May 1st. Finally, Citigroup reduced their price objective on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $286.18.

Institutional Investors Weigh In On ResMed

Institutional investors have recently made changes to their positions in the stock. Imprint Wealth LLC purchased a new stake in shares of ResMed during the third quarter worth $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed during the second quarter worth $26,000. International Assets Investment Management LLC purchased a new stake in shares of ResMed during the fourth quarter worth $25,000. ORG Partners LLC lifted its position in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ResMed during the third quarter worth $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.