ResMed Inc. (NYSE:RMD) CEO Sells $2,011,940.89 in Stock

ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $251.21, for a total value of $2,011,940.89. Following the completion of the transaction, the chief executive officer now directly owns 455,503 shares of the company's stock, valued at $114,426,908.63. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Stock Performance

NYSE RMD traded down $1.48 during trading on Wednesday, reaching $251.18. The company's stock had a trading volume of 620,274 shares, compared to its average volume of 1,013,395. The firm has a 50 day moving average price of $235.14 and a 200 day moving average price of $234.83. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $36.83 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. ResMed had a net margin of 25.34% and a return on equity of 26.17%. 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 previous year, the firm posted $2.13 EPS. The firm's revenue was up 7.9% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio (DPR) is currently 23.79%.

Analyst Ratings Changes

A number of research analysts recently issued reports on RMD shares. Wall Street Zen lowered ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. Morgan Stanley set a $286.00 target price on ResMed and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Mizuho set a $265.00 price target on ResMed in a research report on Wednesday, April 16th. UBS Group dropped their price target 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, KeyCorp set a $274.00 price objective on ResMed in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $259.33.

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. grew its holdings in ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after buying an additional 68 shares in the last quarter. Colonial Trust Co SC lifted its stake in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of ResMed during the 4th quarter valued at $33,000. Golden State Wealth Management LLC increased its stake in shares of ResMed by 384.8% in the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised 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 acquiring an additional 150 shares during the period. Institutional investors and hedge funds 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.