ResMed Inc. (NYSE:RMD) Director Sells $491,300.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total value of $491,300.00. Following the completion of the sale, the director now owns 81,218 shares in the company, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

ResMed Price Performance

RMD stock opened at $241.28 on Friday. The firm has a market cap of $35.42 billion, a P/E ratio of 31.96, a P/E/G ratio of 1.79 and a beta of 0.68. The firm’s fifty day moving average is $242.30 and its 200 day moving average is $226.46. ResMed Inc. has a 52 week low of $162.05 and a 52 week high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.64 earnings per share. Research analysts predict that ResMed Inc. will post 9.28 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed’s dividend payout ratio is currently 28.08%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. KeyCorp raised their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Wolfe Research restated an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Bank of America upped their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently bought and sold shares of the stock. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed during the third quarter worth approximately $34,000. OFI Invest Asset Management purchased a new position in shares of ResMed during the 2nd quarter worth about $32,000. Financial Connections Group Inc. purchased a new stake in shares of ResMed in the second quarter worth approximately $37,000. Finally, Blue Trust Inc. boosted its position in ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 137 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.