Insider Selling: ResMed Director Sells 12,000 Shares of Stock (RMD)
ResMed (NYSE:RMD) Director Gary Pace sold 12,000 shares of ResMed stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $50.05, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 77,273 shares in the company. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
RMD has been the subject of a number of recent research reports. Analysts at Merrill Lynch upgraded shares of ResMed (NYSE:RMD) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 26th. Separately, analysts at Bank of America Corp. upgraded shares of ResMed (NYSE:RMD) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 26th. Finally, analysts at Zacks downgraded shares of ResMed (NYSE:RMD) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 12th. They now have a $52.20 price target on the stock.
Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. ResMed currently has an average rating of “Hold” and an average target price of $47.53.
Shares of ResMed (NYSE:RMD) traded down 0.48% on Wednesday, hitting $52.01. 1,388,891 shares of the company’s stock traded hands. ResMed has a 52 week low of $38.08 and a 52 week high of $52.74. The stock’s 50-day moving average is $48.53 and its 200-day moving average is $46.84. The company has a market cap of $7.388 billion and a P/E ratio of 24.89.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.62 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.62. The company had revenue of $414.60 million for the quarter, compared to the consensus estimate of $410.89 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis. On average, analysts predict that ResMed will post $2.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 17th. Investors of record on Tuesday, August 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from ResMed’s previous quarterly dividend of $0.17.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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