ResMed Inc. (NYSE:RMD) Director Sells $474,400.00 in Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $237.20, for a total transaction of $474,400.00. Following the transaction, the director now directly owns 85,204 shares in the company, valued at $20,210,388.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ResMed Trading Down 1.9 %

Shares of ResMed stock opened at $233.98 on Friday. ResMed Inc. has a 52-week low of $132.24 and a 52-week high of $255.18. The stock’s 50-day simple moving average is $234.03 and its 200 day simple moving average is $212.81. The stock has a market capitalization of $34.37 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.36 and a beta of 0.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business posted $1.60 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts anticipate that ResMed Inc. will post 8.97 EPS for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Thursday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is presently 32.57%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. OFI Invest Asset Management purchased a new position in ResMed during the 2nd quarter valued at about $32,000. BOK Financial Private Wealth Inc. purchased a new position in ResMed during the 1st quarter valued at about $35,000. Versant Capital Management Inc grew its holdings in ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares in the last quarter. Financial Connections Group Inc. purchased a new position in shares of ResMed during the second quarter worth about $37,000. Finally, Riverview Trust Co purchased a new position in shares of ResMed during the first quarter worth about $42,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on RMD. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Robert W. Baird began coverage on shares of ResMed in a report on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective on the stock. StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and a consensus target price of $213.75.

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.