Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells 2,000 Shares of Stock

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

ResMed Stock Performance

Shares of ResMed stock opened at $237.11 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The firm has a 50 day simple moving average of $239.68 and a 200 day simple moving average of $237.19. ResMed Inc. has a fifty-two week low of $170.56 and a fifty-two week high of $263.05. The firm has a market cap of $34.81 billion, a P/E ratio of 27.99, a P/E/G ratio of 1.69 and a beta of 0.70.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio is currently 25.03%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after buying an additional 116,918 shares during the last quarter. Geode Capital Management LLC grew its holdings in ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock worth $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock valued at $218,861,000 after acquiring an additional 32,973 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of ResMed by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider’s stock valued at $181,237,000 after acquiring an additional 2,406 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of ResMed by 60.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider’s stock valued at $152,973,000 after purchasing an additional 250,746 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on RMD shares. Royal Bank of Canada raised their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Piper Sandler upped 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. JPMorgan Chase & Co. increased their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, ResMed currently has an average rating of “Moderate Buy” and a consensus price target of $244.73.

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.