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ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell Sells 8,009 Shares

ResMed logo with Medical background

ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 455,503 shares of the company's stock, valued at approximately $116,936,730.16. This represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ResMed Stock Up 0.8%

Shares of NYSE RMD traded up $2.11 on Thursday, reaching $258.09. 637,776 shares of the company's stock traded hands, compared to its average volume of 969,345. ResMed Inc. has a 12 month low of $195.00 and a 12 month high of $263.05. The business's 50 day simple moving average is $250.08 and its two-hundred day simple moving average is $236.57. The company has a market cap of $37.84 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The company has a quick ratio of 2.49, a current ratio of 3.41 and a debt-to-equity ratio of 0.12.

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

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's dividend payout ratio is presently 23.79%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RMD shares. UBS Group dropped their price objective on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler dropped their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the stock an "overweight" rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a research note on Thursday, April 24th. Finally, Royal Bank Of Canada lifted their target price 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.33.

Check Out Our Latest Report on RMD

Hedge Funds Weigh In On ResMed

Several large investors have recently modified their holdings of RMD. ICW Investment Advisors LLC lifted its position in ResMed by 0.4% in the 1st quarter. ICW Investment Advisors LLC now owns 11,394 shares of the medical equipment provider's stock valued at $2,551,000 after acquiring an additional 41 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in ResMed by 3.9% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,222 shares of the medical equipment provider's stock valued at $269,000 after acquiring an additional 46 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in ResMed by 2.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 1,719 shares of the medical equipment provider's stock valued at $385,000 after acquiring an additional 47 shares in the last quarter. CVA Family Office LLC lifted its position in ResMed by 29.8% in the 1st quarter. CVA Family Office LLC now owns 209 shares of the medical equipment provider's stock valued at $47,000 after acquiring an additional 48 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in ResMed by 9.7% in the 1st quarter. Central Pacific Bank Trust Division now owns 565 shares of the medical equipment provider's stock valued at $126,000 after acquiring an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.

ResMed Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for ResMed (NYSE:RMD)

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