ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at approximately $95,580,799.20. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
ResMed Stock Up 5.9 %
Shares of RMD opened at $216.70 on Thursday. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The firm has a market cap of $31.83 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The firm's 50-day simple moving average is $226.80 and its 200 day simple moving average is $235.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.
ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is 25.03%.
Hedge Funds Weigh In On ResMed
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Colonial Trust Co SC raised its stake in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Optiver Holding B.V. acquired a new stake in ResMed in the fourth quarter worth $33,000. Itau Unibanco Holding S.A. grew its holdings in ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 150 shares during the period. OFI Invest Asset Management acquired a new position in shares of ResMed during the fourth quarter valued at about $39,000. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after buying an additional 175 shares during the last quarter. Institutional investors own 54.98% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. JPMorgan Chase & Co. increased their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Finally, KeyCorp increased their price objective on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average price target of $249.73.
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ResMed Company Profile
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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.
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