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

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the sale, the director now owns 83,204 shares in the company, valued at $20,696,162.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

ResMed Stock Up 2.1 %

Shares of RMD traded up $5.32 during trading hours on Friday, reaching $253.86. The company’s stock had a trading volume of 336,805 shares, compared to its average volume of 1,048,182. The company has a 50 day moving average of $243.12 and a two-hundred day moving average of $221.39. ResMed Inc. has a 1-year low of $140.81 and a 1-year high of $260.49. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 33.52, a P/E/G ratio of 1.80 and a beta of 0.69. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 EPS. As a group, research analysts predict that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.84%. ResMed’s dividend payout ratio is currently 28.08%.

Analyst Ratings Changes

RMD has been the subject of several recent analyst reports. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Wolfe Research restated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Finally, Bank of America boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.70.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. OFI Invest Asset Management bought a new position in shares of ResMed during the 2nd quarter valued at $32,000. Ashton Thomas Securities LLC bought a new position in ResMed during the third quarter valued at about $34,000. Versant Capital Management Inc lifted its position 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 worth $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. bought a new stake in shares of ResMed during the 2nd quarter worth about $37,000. Finally, Blue Trust Inc. raised its stake in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 137 shares in the last quarter. Institutional investors 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.