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

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $219.74, for a total transaction of $439,480.00. Following the transaction, the director now directly owns 73,218 shares in the company, valued at $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 accessible through this hyperlink.

ResMed Stock Down 4.0 %

Shares of NYSE RMD opened at $204.72 on Friday. The firm has a fifty day simple moving average of $230.74 and a two-hundred day simple moving average of $236.95. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $30.07 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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 earnings per share for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, February 13th. ResMed’s payout ratio is presently 25.03%.

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. Central Pacific Bank Trust Division boosted its holdings in shares of ResMed by 9.7% during the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider’s stock valued at $126,000 after buying an additional 50 shares in the last quarter. Versant Capital Management Inc boosted its stake in ResMed by 265.1% during the first quarter. Versant Capital Management Inc now owns 1,676 shares of the medical equipment provider’s stock worth $375,000 after acquiring an additional 1,217 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in ResMed by 3.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 68,739 shares of the medical equipment provider’s stock worth $15,387,000 after purchasing an additional 2,142 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of ResMed by 306.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 29,549 shares of the medical equipment provider’s stock valued at $6,758,000 after purchasing an additional 22,278 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC lifted its holdings in shares of ResMed by 1.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 53,033 shares of the medical equipment provider’s stock valued at $12,128,000 after purchasing an additional 541 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on RMD. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Morgan Stanley started coverage on ResMed in a research note on Wednesday, March 19th. They issued an “overweight” rating and a $280.00 target price for the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. Finally, StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.