ResMed Inc. (NYSE:RMD) Director Peter C. Farrell Sells 2,000 Shares

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

ResMed Stock Down 2.6 %

Shares of ResMed stock opened at $239.41 on Friday. 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 Inc. has a 52-week low of $162.05 and a 52-week high of $260.49. The stock has a market capitalization of $35.15 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 1.80 and a beta of 0.68. The company’s 50 day moving average price is $242.25 and its 200-day moving average price is $226.30.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the business earned $1.64 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that ResMed Inc. will post 9.28 EPS for the current year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed’s payout ratio is 28.08%.

Analysts Set New Price Targets

A number of brokerages have commented on RMD. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Finally, Baird R W upgraded shares of ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.70.

Institutional Trading of ResMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMD. True Wealth Design LLC lifted its stake in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the period. OFI Invest Asset Management purchased a new stake in ResMed in the second quarter worth $32,000. Ashton Thomas Securities LLC purchased a new position in ResMed during the third quarter valued at $34,000. Financial Connections Group Inc. purchased a new position in ResMed during the second quarter valued at $37,000. Finally, Blue Trust Inc. lifted its position in ResMed by 182.7% during the second 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. 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.