Insider Selling: ResMed Inc. (NYSE:RMD) CEO Sells 14,683 Shares of Stock

ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

ResMed Stock Performance

ResMed stock traded up $3.96 during mid-day trading on Thursday, reaching $216.84. The company's stock had a trading volume of 808,997 shares, compared to its average volume of 1,065,819. The company has a market capitalization of $31.86 billion, a P/E ratio of 32.70, a PEG ratio of 2.68 and a beta of 0.64. The firm's fifty day moving average price is $192.67 and its two-hundred day moving average price is $176.28. ResMed Inc. has a 12-month low of $132.24 and a 12-month high of $237.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $1.91 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. ResMed's revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $1.68 earnings per share. Sell-side analysts predict that ResMed Inc. will post 7.59 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed's payout ratio is presently 29.49%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on ResMed from $175.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, January 25th. KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the stock an "overweight" rating in a research note on Friday, April 26th. Mizuho reiterated a "buy" rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their target price on ResMed from $187.00 to $200.00 and gave the stock a "sector perform" rating in a report on Friday, April 26th. Finally, Needham & Company LLC upped their price objective on shares of ResMed from $224.00 to $236.00 and gave the company a "buy" rating in a report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, ResMed presently has an average rating of "Moderate Buy" and an average price target of $202.80.

Institutional Trading of ResMed

Several hedge funds and other institutional investors have recently bought and sold shares of RMD. EverSource Wealth Advisors LLC lifted its position in ResMed by 224.6% during the third quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 128 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new stake in ResMed during the 4th quarter valued at about $27,000. Operose Advisors LLC bought a new position in shares of ResMed in the third quarter worth approximately $32,000. Hall Laurie J Trustee purchased a new stake in shares of ResMed during the first quarter valued at approximately $32,000. Finally, Planned Solutions Inc. purchased a new position in ResMed in the 4th quarter worth about $34,000. Institutional investors own 54.98% of the company's stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.