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 that occurred on Monday, July 7th. The stock was 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 owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. The trade was 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 the SEC website.

ResMed Stock Performance

RMD stock traded down $3.92 during trading on Friday, reaching $254.15. The stock had a trading volume of 517,805 shares, compared to its average volume of 968,637. ResMed Inc. has a 52 week low of $196.43 and a 52 week high of $263.05. The stock's 50 day moving average is $250.36 and its two-hundred day moving average is $236.72. 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 $37.27 billion, a PE ratio of 28.52, a PEG ratio of 1.62 and a beta of 0.77.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business 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 business's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 earnings per share. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently declared 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. This represents a $2.12 annualized dividend and a yield of 0.83%. The ex-dividend date was Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. Wall Street Zen downgraded ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank Of Canada boosted their price objective on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a report on Thursday, April 24th. UBS Group dropped their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, ResMed has an average rating of "Moderate Buy" and a consensus target price of $259.33.

Hedge Funds Weigh In On ResMed

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in ResMed by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after buying an additional 320,240 shares in the last quarter. Geode Capital Management LLC grew its holdings in 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 buying an additional 85,270 shares in the last quarter. Invesco Ltd. grew its holdings in ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after buying an additional 566,046 shares in the last quarter. Northern Trust Corp grew its holdings in ResMed by 2.5% during the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider's stock valued at $390,516,000 after buying an additional 41,951 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in ResMed by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider's stock valued at $223,431,000 after buying an additional 41,108 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

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.