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 the company's stock in a transaction dated 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 sale, the chief executive officer directly 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

ResMed Trading Down 0.3%

Shares of RMD stock traded down $0.84 during trading hours on Wednesday, reaching $255.75. The company's stock had a trading volume of 792,474 shares, compared to its average volume of 968,785. The stock has a market capitalization of $37.50 billion, a P/E ratio of 28.70, a P/E/G ratio of 1.61 and a beta of 0.77. ResMed Inc. has a one year low of $188.56 and a one year high of $263.05. The firm's fifty day simple moving average is $249.26 and its 200 day simple moving average is $236.25. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12.

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

ResMed Dividend Announcement

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

Institutional Investors Weigh In On ResMed

Institutional investors and hedge funds have recently made changes to their positions in the company. Global X Japan Co. Ltd. increased its position in ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Colonial Trust Co SC boosted its stake in shares of ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. bought a new position in shares of ResMed in the fourth quarter worth about $33,000. Golden State Wealth Management LLC boosted its stake in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its stake in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after buying an additional 150 shares during the last quarter. Institutional investors own 54.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RMD. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Royal Bank Of Canada increased their price target on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. UBS Group lowered their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Finally, KeyCorp set a $274.00 price objective on ResMed in a research report on Thursday, April 24th. One investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.