ResMed Inc. (NYSE:RMD) Director Peter C. Farrell Sells 2,000 Shares of Stock

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

ResMed Stock Performance

Shares of ResMed stock opened at $244.87 on Friday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average is $215.85 and its two-hundred day moving average is $204.44. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $247.73. The company has a market capitalization of $35.98 billion, a PE ratio of 37.61, a price-to-earnings-growth ratio of 2.44 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its earnings results 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. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. As a group, analysts expect that ResMed Inc. will post 8.91 earnings per share for the current year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th will be paid a $0.53 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Thursday, August 15th. ResMed’s dividend payout ratio is currently 32.57%.

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently modified their holdings of RMD. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed during the 4th quarter worth $27,000. BOK Financial Private Wealth Inc. bought a new position in shares of ResMed during the 1st quarter worth $35,000. OFI Invest Asset Management purchased a new position in shares of ResMed during the second quarter valued at $32,000. Versant Capital Management Inc raised its holdings in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares in the last quarter. Finally, Financial Connections Group Inc. purchased a new stake in ResMed in the second quarter worth about $37,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RMD. Royal Bank of Canada lifted their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. KeyCorp lifted their price target on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. Oppenheimer cut ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Finally, Needham & Company LLC lowered ResMed from a “buy” rating to a “hold” rating and set a $236.00 price target on the stock. in a report on Wednesday. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $204.70.

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.