Peter Farrell Sells 8,000 Shares of ResMed (NYSE:RMD) Stock

Key Points

• ResMed director Peter Farrell sold 8,000 shares at an average price of $225, generating $1.8 million. The Rule 10b5-1 transaction reduced his holdings by 13.16% to 52,773 shares.
• ResMed shares rose 0.1% to $224.26, giving the company a market capitalization of approximately $32.53 billion. The stock trades at a P/E ratio of 21.63 and remains below its 52-week high of $293.81.
• Analysts have a consensus “Hold” rating with an average price target of $246.25, while institutional investors own nearly 55% of ResMed’s outstanding shares.

ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter Farrell sold 8,000 shares of ResMed stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the completion of the transaction, the director owned 52,773 shares of the company's stock, valued at $11,873,925. This represents a 13.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

ResMed Stock Up 0.1%

ResMed stock traded up $0.23 during mid-day trading on Thursday, hitting $224.26. The company had a trading volume of 1,061,031 shares, compared to its average volume of 1,285,706. The business has a fifty day moving average of $199.66 and a 200 day moving average of $222.54. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The stock has a market cap of $32.53 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 1.36 and a beta of 0.76.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in ResMed in the fourth quarter valued at about $25,000. Imprint Wealth LLC purchased a new position in ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC purchased a new stake in shares of ResMed during the second quarter worth about $26,000. Sunbelt Securities Inc. purchased a new position in shares of ResMed during the 3rd quarter valued at approximately $31,000. Finally, Reflection Asset Management bought a new position in shares of ResMed during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Mizuho dropped their price target on shares of ResMed from $235.00 to $220.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 15th. KeyCorp reduced their target price on ResMed from $290.00 to $266.00 and set an "overweight" rating for the company in a report on Monday, June 22nd. Royal Bank Of Canada lowered shares of ResMed from an "outperform" rating to a "sector perform" rating and set a $234.00 target price on the stock. in a research report on Thursday, July 16th. UBS Group reiterated a "buy" rating and set a $300.00 price target on shares of ResMed in a research report on Tuesday, July 21st. Finally, The Goldman Sachs Group reissued a "buy" rating on shares of ResMed in a research note on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $246.25.

About ResMed

ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.

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