ResMed (NYSE:RMD) Director Peter Farrell Sells 2,000 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Peter Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $251.31, for a total value of $502,620.00. Following the sale, the director directly owned 64,773 shares in the company, valued at approximately $16,278,102.63. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

ResMed Stock Up 1.8%

RMD stock opened at $271.86 on Friday. ResMed Inc. has a 52 week low of $199.92 and a 52 week high of $293.81. The business has a 50-day simple moving average of $251.78 and a 200 day simple moving average of $263.41. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The company has a market cap of $39.60 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.77 and a beta of 0.87.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $2.43 EPS. Sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed’s payout ratio is currently 23.74%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RMD. Robert W. Baird set a $281.00 price target on ResMed in a report on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $345.00 target price on shares of ResMed in a report on Friday, December 12th. Royal Bank Of Canada lifted their price target on shares of ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. Finally, Piper Sandler boosted their target price on shares of ResMed from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $299.27.

Institutional Trading of ResMed

Several institutional investors have recently modified their holdings of RMD. Entropy Technologies LP raised its holdings in shares of ResMed by 188.7% during the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider’s stock valued at $4,227,000 after purchasing an additional 10,708 shares during the period. Quantbot Technologies LP raised its stake in ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider’s stock worth $9,380,000 after buying an additional 25,810 shares during the period. Nordea Investment Management AB raised its stake in ResMed by 3.5% during the 3rd quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider’s stock worth $217,387,000 after buying an additional 26,629 shares during the period. American Century Companies Inc. boosted its holdings in ResMed by 0.7% in the second quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider’s stock worth $45,382,000 after acquiring an additional 1,183 shares in the last quarter. Finally, Swedbank AB grew its stake in ResMed by 25.4% in the third quarter. Swedbank AB now owns 542,711 shares of the medical equipment provider’s stock valued at $148,556,000 after acquiring an additional 109,760 shares during the period. 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.