Michael J. Farrell Sells 8,009 Shares of ResMed Inc. (NYSE:RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $104,394,182.40. This represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ResMed Price Performance

RMD opened at $220.09 on Thursday. The business has a fifty day moving average of $236.63 and a 200 day moving average of $239.99. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. 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 stock has a market cap of $32.32 billion, a P/E ratio of 25.98, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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%. As a group, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RMD. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. KeyCorp raised their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Piper Sandler raised their price target on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $243.82.

Hedge Funds Weigh In On ResMed

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock valued at $4,156,089,000 after acquiring an additional 160,590 shares during the period. State Street Corp raised its position in ResMed by 1.9% during the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock valued at $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Geode Capital Management LLC raised its position in ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock valued at $899,860,000 after purchasing an additional 85,270 shares in the last quarter. Invesco Ltd. raised its position in ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Finally, Northern Trust Corp raised its position in ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock valued at $389,365,000 after purchasing an additional 290,664 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

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.