Michael J. Farrell Sells 6,651 Shares of ResMed Inc. (RMD) Stock

ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 6,651 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $109.72, for a total transaction of $729,747.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shares of NYSE RMD traded up $1.21 on Tuesday, reaching $112.06. 404,671 shares of the company’s stock traded hands, compared to its average volume of 1,026,746. ResMed Inc. has a 12 month low of $90.64 and a 12 month high of $118.50. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 31.75, a P/E/G ratio of 2.91 and a beta of 0.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.69 and a current ratio of 2.38.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.05. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The business had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. During the same quarter last year, the firm earned $0.92 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 3.63 earnings per share for the current fiscal year.



The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed’s dividend payout ratio is 41.93%.

Several brokerages have commented on RMD. JPMorgan Chase & Co. lowered shares of ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price objective for the company. in a report on Friday, January 25th. Deutsche Bank lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. BMO Capital Markets lowered their price objective on shares of ResMed to $120.00 and set a “positive” rating for the company in a report on Monday, January 28th. ValuEngine lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Goldman Sachs Group lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $112.50.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Bank of Australia increased its stake in shares of ResMed by 6.4% during the first quarter. Commonwealth Bank of Australia now owns 1,502 shares of the medical equipment provider’s stock valued at $154,000 after purchasing an additional 90 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 97 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of ResMed by 1.3% during the first quarter. Louisiana State Employees Retirement System now owns 7,600 shares of the medical equipment provider’s stock valued at $790,000 after acquiring an additional 100 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of ResMed by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 6,239 shares of the medical equipment provider’s stock valued at $710,000 after acquiring an additional 110 shares in the last quarter. Finally, Fifth Third Bancorp increased its position in shares of ResMed by 4.8% during the first quarter. Fifth Third Bancorp now owns 2,909 shares of the medical equipment provider’s stock valued at $302,000 after acquiring an additional 133 shares in the last quarter. 67.94% of the stock is owned by institutional investors and hedge funds.

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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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