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

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $226.33, for a total value of $1,129,613.03. Following the sale, the chief executive officer owned 479,803 shares in the company, valued at approximately $108,593,812.99. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Trading Up 0.2%

Shares of RMD opened at $226.52 on Friday. The stock has a fifty day moving average price of $225.24 and a two-hundred day moving average price of $213.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $284.05. The company has a market cap of $31.86 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 1.42 and a beta of 0.75.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm earned $2.55 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Analysts predict that ResMed Inc. will post 12.07 EPS for the current fiscal year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, August 20th were given a dividend of $0.66 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 20th. This represents a $2.64 annualized dividend and a yield of 1.2%. ResMed’s dividend payout ratio is currently 25.31%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bell Investment Advisors Inc acquired a new stake in ResMed during the 2nd quarter worth $26,000. Reflection Asset Management acquired a new position in shares of ResMed in the 4th quarter valued at $34,000. Trust Co. of Vermont acquired a new position in shares of ResMed in the 2nd quarter valued at $39,000. Kelleher Financial Advisors bought a new position in shares of ResMed in the 2nd quarter worth $47,000. Finally, MV Capital Management Inc. bought a new position in shares of ResMed in the 4th quarter worth $52,000. Institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RMD shares. Citigroup reaffirmed a “neutral” rating on shares of ResMed in a research note on Thursday, September 10th. Weiss Ratings raised shares of ResMed from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Piper Sandler lowered their price target on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating for the company in a report on Friday, August 7th. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Finally, Robert W. Baird set a $213.00 price objective on shares of ResMed in a research report on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $241.69.

ResMed Company Profile

ResMed Inc (NYSE: RMD) develops, manufactures and distributes medical equipment and digital health solutions for sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its products include continuous positive airway pressure (CPAP), bilevel and other noninvasive ventilation devices, as well as masks, humidifiers, accessories and diagnostic equipment.

The company also provides cloud-connected software and digital health services that support patient monitoring, therapy management and communication among patients, clinicians and care providers.