ResMed (NYSE:RMD) Director Peter Farrell Sells 970 Shares

Key Points

• ResMed director Peter Farrell sold 970 shares for approximately $227,688 at an average price of $234.73, reducing his position by 1.84%. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan.
• ResMed reported quarterly EPS of $2.95, beating estimates by $0.06, while revenue rose 8.6% year over year to $1.46 billion. The company also increased its quarterly dividend to $0.66 per share, or $2.64 annually.
• Analysts maintain a consensus “Hold” rating, with an average price target of $240.31; six analysts rate the stock a Buy and ten rate it a Hold.

ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter Farrell sold 970 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $234.73, for a total value of $227,688.10. Following the transaction, the director owned 51,803 shares of the company's stock, valued at approximately $12,159,718.19. The trade was a 1.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Trading Down 0.8%

NYSE RMD opened at $228.91 on Friday. The stock has a market cap of $33.02 billion, a PE ratio of 21.95, a PEG ratio of 1.45 and a beta of 0.77. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $284.87. The company's 50-day moving average price is $214.95 and its 200-day moving average price is $218.15. The company has a current ratio of 3.10, a quick ratio of 2.42 and a debt-to-equity ratio of 0.06.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $2.55 EPS. Equities research analysts forecast that ResMed Inc. will post 12.03 earnings per share for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.66 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from ResMed's previous quarterly dividend of $0.60. ResMed's dividend payout ratio (DPR) is 25.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised ResMed from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. KeyCorp upped their price target on shares of ResMed from $255.00 to $267.00 and gave the company an "overweight" rating in a report on Monday. Jefferies Financial Group reduced their price objective on ResMed from $240.00 to $225.00 and set a "hold" rating for the company in a research note on Friday, July 10th. Mizuho dropped their price target on shares of ResMed from $235.00 to $220.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company reduced their price target on ResMed from $225.00 to $215.00 and set an "equal weight" rating for the company in a report on Friday, August 7th. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, ResMed currently has an average rating of "Hold" and a consensus target price of $240.31.

Institutional Trading of ResMed

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System raised its position in ResMed by 19,648.1% in the second quarter. California State Teachers Retirement System now owns 43,963,369 shares of the medical equipment provider's stock valued at $8,567,581,000 after purchasing an additional 43,740,748 shares during the period. BlackRock Inc. purchased a new stake in shares of ResMed in the 2nd quarter valued at $2,400,375,000. State Street Corp lifted its stake in ResMed by 1.2% during the 4th quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider's stock worth $1,595,862,000 after acquiring an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in ResMed by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider's stock worth $1,105,651,000 after acquiring an additional 34,732 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in ResMed by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider's stock valued at $1,032,877,000 after acquiring an additional 51,218 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.

About ResMed

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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