Insider Selling: ResMed (NYSE:RMD) CEO Sells $1,252,890.73 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

ResMed Stock Performance

NYSE:RMD opened at $231.00 on Friday. The company has a market cap of $33.65 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.54 and a beta of 0.88. The firm’s 50 day moving average is $255.05 and its two-hundred day moving average is $258.55. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is 23.74%.

Analyst Upgrades and Downgrades

RMD has been the subject of a number of research reports. Weiss Ratings upgraded ResMed from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, February 9th. Citigroup raised their price target on shares of ResMed from $330.00 to $345.00 and gave the company a “buy” rating in a report on Monday, February 2nd. Royal Bank Of Canada boosted their price objective on shares of ResMed from $311.00 to $314.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. UBS Group reissued a “buy” rating and issued a $345.00 price objective on shares of ResMed in a research report on Friday, December 12th. Finally, KeyCorp restated an “overweight” rating and set a $302.00 target price on shares of ResMed in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold 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 $299.27.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RMD. Jones Financial Companies Lllp raised its stake in shares of ResMed by 52.6% in the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock valued at $645,000 after purchasing an additional 994 shares in the last quarter. Wedbush Securities Inc. increased its holdings in ResMed by 12.0% in the second quarter. Wedbush Securities Inc. now owns 3,658 shares of the medical equipment provider’s stock valued at $944,000 after buying an additional 391 shares during the last quarter. Penserra Capital Management LLC raised its stake in ResMed by 6,500.0% during the second quarter. Penserra Capital Management LLC now owns 792 shares of the medical equipment provider’s stock valued at $204,000 after buying an additional 780 shares in the last quarter. Aviva PLC lifted its holdings in ResMed by 23.4% during the 2nd quarter. Aviva PLC now owns 89,541 shares of the medical equipment provider’s stock worth $23,102,000 after buying an additional 16,985 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of ResMed by 5,074.8% in the 2nd quarter. Acadian Asset Management LLC now owns 70,791 shares of the medical equipment provider’s stock worth $18,260,000 after acquiring an additional 69,423 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

About ResMed

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.