ResMed Inc. (NYSE:RMD) CEO Sells $913,714.38 in Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $137.38, for a total value of $913,714.38. Following the completion of the transaction, the chief executive officer now owns 310,975 shares in the company, valued at $42,721,745.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of NYSE:RMD traded down $0.75 during trading on Tuesday, hitting $134.36. 510,891 shares of the company’s stock were exchanged, compared to its average volume of 417,878. ResMed Inc. has a 1-year low of $90.64 and a 1-year high of $141.25. The firm has a 50-day moving average price of $132.98 and a two-hundred day moving average price of $115.92. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.61. The firm has a market cap of $20.16 billion, a P/E ratio of 36.91, a PEG ratio of 3.38 and a beta of 0.44.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The business had revenue of $705.00 million for the quarter, compared to analyst estimates of $701.56 million. During the same period in the prior year, the business posted $0.95 earnings per share. ResMed’s revenue was up 13.1% compared to the same quarter last year. As a group, research analysts predict that ResMed Inc. will post 3.92 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.39 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.37. This represents a $1.56 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Wednesday, August 14th. ResMed’s payout ratio is presently 42.86%.

Several research firms have recently commented on RMD. UBS Group raised ResMed from a “neutral” rating to a “buy” rating and lifted their target price for the company from $122.00 to $140.00 in a research note on Monday, July 29th. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research note on Monday, July 8th. Finally, Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.50.

Hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC grew its holdings in shares of ResMed by 63.3% in the 1st quarter. WCM Investment Management LLC now owns 7,059,797 shares of the medical equipment provider’s stock valued at $734,008,000 after buying an additional 2,735,434 shares during the period. Invesco Ltd. lifted its holdings in ResMed by 208.2% during the second quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock worth $238,584,000 after acquiring an additional 1,320,770 shares in the last quarter. Nuveen Asset Management LLC grew its stake in ResMed by 13,733.4% in the second quarter. Nuveen Asset Management LLC now owns 542,824 shares of the medical equipment provider’s stock valued at $66,241,000 after acquiring an additional 538,900 shares during the period. OppenheimerFunds Inc. grew its stake in ResMed by 80.4% in the first quarter. OppenheimerFunds Inc. now owns 762,303 shares of the medical equipment provider’s stock valued at $79,256,000 after acquiring an additional 339,632 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its holdings in shares of ResMed by 66.9% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 773,844 shares of the medical equipment provider’s stock worth $94,433,000 after acquiring an additional 310,273 shares in the last quarter. 66.94% of the stock is owned by institutional investors.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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

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