Insider Selling: ResMed Inc. (NYSE:RMD) CEO Sells 8,009 Shares of Stock

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

ResMed Price Performance

NYSE RMD traded up $3.41 on Thursday, reaching $259.39. The company's stock had a trading volume of 252,510 shares, compared to its average volume of 966,016. ResMed Inc. has a 52 week low of $189.15 and a 52 week high of $263.05. 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 firm has a market cap of $38.03 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.77. The business has a 50-day moving average price of $249.64 and a 200 day moving average price of $236.39.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data 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. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the prior year, the company posted $2.13 EPS. The company's revenue was up 7.9% compared to the same quarter last year. Sell-side 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. Shareholders of record on Thursday, May 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.82%. ResMed's payout ratio is presently 23.79%.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently made changes to their positions in RMD. Global X Japan Co. Ltd. lifted its holdings in ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC boosted its holdings in shares of ResMed by 6,250.0% in the 4th 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 in the last quarter. Optiver Holding B.V. acquired a new position in shares of ResMed in the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC grew its position in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. increased its holdings in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RMD shares. Royal Bank Of Canada upped their price target on shares of ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. Piper Sandler cut their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Mizuho set a $265.00 target price on ResMed in a report on Wednesday, April 16th. Morgan Stanley set a $286.00 price target on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Finally, Wall Street Zen cut ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average 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.