ResMed Inc. (NYSE:RMD) Director Sells $439,480.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total value of $439,480.00. Following the sale, the director now owns 73,218 shares of the company’s stock, valued at approximately $16,088,923.32. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

ResMed Price Performance

NYSE:RMD opened at $204.72 on Friday. The company has a market capitalization of $30.07 billion, a P/E ratio of 24.17, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The stock’s fifty day moving average is $230.74 and its two-hundred day moving average is $237.04.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.04%. ResMed’s payout ratio is currently 25.03%.

Institutional Trading of ResMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of ResMed by 32.2% in the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock valued at $531,706,000 after buying an additional 566,046 shares in the last quarter. Norges Bank purchased a new position in ResMed during the 4th quarter valued at about $118,605,000. Captrust Financial Advisors grew its position in ResMed by 813.4% in the 4th quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider’s stock valued at $101,387,000 after acquiring an additional 394,803 shares in the last quarter. Geode Capital Management LLC increased its stake in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after purchasing an additional 380,383 shares during the period. Finally, AQR Capital Management LLC lifted its position in shares of ResMed by 133.6% during the fourth quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider’s stock worth $142,944,000 after purchasing an additional 357,466 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RMD. KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group began coverage on shares of ResMed in a research note on Thursday, January 16th. They set a “buy” rating for the company. Finally, UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $249.73.

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.