ResMed Inc. (NYSE:RMD) CEO Sells $2,056,070.48 in Stock

ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, July 7th. The shares were sold at an average price of $256.72, for a total value of $2,056,070.48. Following the completion of the transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

ResMed Stock Down 1.5%

NYSE:RMD traded down $3.92 on Friday, reaching $254.15. 517,805 shares of the stock traded hands, compared to its average volume of 967,546. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $37.26 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.60 and a beta of 0.77. ResMed Inc. has a 12 month low of $195.00 and a 12 month high of $263.05. The company's fifty day simple moving average is $250.08 and its 200 day simple moving average is $236.57.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.01. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. 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. Equities analysts predict that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

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

Institutional Trading of ResMed

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock worth $4,139,815,000 after purchasing an additional 320,240 shares during the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after purchasing an additional 85,270 shares during the period. Invesco Ltd. boosted its holdings in ResMed by 32.2% in the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after buying an additional 566,046 shares during the period. Northern Trust Corp increased its stake in ResMed by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider's stock worth $390,516,000 after buying an additional 41,951 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in ResMed by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider's stock valued at $223,431,000 after acquiring an additional 41,108 shares during the period. 54.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RMD shares. Royal Bank Of Canada boosted their price objective on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. UBS Group reduced their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. Finally, KeyCorp set a $274.00 target price on ResMed in a research note 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $259.33.

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.