ResMed Inc. (NYSE:RMD) Director Sells $484,220.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Price Performance

Shares of ResMed stock traded up $1.73 on Wednesday, reaching $242.19. The company’s stock had a trading volume of 999,853 shares, compared to its average volume of 1,031,791. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $35.55 billion, a P/E ratio of 28.59, a PEG ratio of 1.69 and a beta of 0.70. ResMed Inc. has a 52-week low of $170.56 and a 52-week high of $263.05. The stock has a 50-day moving average price of $239.82 and a 200-day moving average price of $237.15.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Analysts expect that ResMed Inc. will post 9.41 EPS for the current year.

ResMed Announces Dividend

The company also recently announced 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 0.88%. The ex-dividend date is Thursday, February 13th. ResMed’s dividend payout ratio is currently 25.03%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in ResMed by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after acquiring an additional 2,053 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in ResMed in the 2nd quarter valued at $1,162,000. Czech National Bank boosted its holdings in shares of ResMed by 6.9% in the third quarter. Czech National Bank now owns 29,931 shares of the medical equipment provider’s stock valued at $7,307,000 after acquiring an additional 1,936 shares in the last quarter. GAMMA Investing LLC raised its holdings in ResMed by 88.9% during the third quarter. GAMMA Investing LLC now owns 2,501 shares of the medical equipment provider’s stock worth $611,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Miracle Mile Advisors LLC purchased a new position in shares of ResMed during the 3rd quarter worth approximately $205,000. 54.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp boosted their price objective on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Stifel Nicolaus assumed coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 target price on the stock. Finally, Piper Sandler lifted their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $244.73.

About ResMed

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.