Insider Selling: ResMed Inc. (NYSE:RMD) Director Sells 945 Shares of Stock

ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter C. Farrell sold 945 shares of ResMed stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total value of $241,438.05. Following the sale, the director directly owned 68,273 shares of the company's stock, valued at $17,443,068.77. This trade represents a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

ResMed Trading Up 0.4%

Shares of NYSE RMD traded up $0.98 during trading on Thursday, hitting $256.86. 391,763 shares of the company were exchanged, compared to its average volume of 991,297. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41. The firm has a market capitalization of $37.66 billion, a PE ratio of 28.83, a P/E/G ratio of 1.60 and a beta of 0.77. The company has a fifty day moving average price of $247.59 and a 200-day moving average price of $235.70. ResMed Inc. has a 12-month low of $188.56 and a 12-month high of $263.05.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were issued a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. ResMed's dividend payout ratio is currently 23.79%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMD. Exchange Traded Concepts LLC boosted its stake in shares of ResMed by 393.0% in the first quarter. Exchange Traded Concepts LLC now owns 2,529 shares of the medical equipment provider's stock valued at $566,000 after purchasing an additional 2,016 shares during the period. IFP Advisors Inc increased its holdings in ResMed by 37.1% during the 4th quarter. IFP Advisors Inc now owns 373 shares of the medical equipment provider's stock worth $85,000 after purchasing an additional 101 shares during the period. Jones Financial Companies Lllp boosted its stake in shares of ResMed by 38.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider's stock valued at $432,000 after buying an additional 523 shares during the period. Atria Investments Inc raised its holdings in ResMed by 21.5% in the fourth quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider's stock valued at $482,000 after acquiring an additional 372 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in ResMed during the 4th quarter worth approximately $347,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RMD shares. Wall Street Zen cut shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. KeyCorp set a $274.00 price target on shares of ResMed in a research report on Thursday, April 24th. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. Royal Bank Of Canada boosted their price target on shares of ResMed from $247.00 to $255.00 and gave the stock a "sector perform" rating in a report on Thursday, April 24th. Finally, Piper Sandler lowered their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $259.33.

About ResMed

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.

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