Insider Selling: Peter C. Farrell Unloads 25,000 Shares of ResMed Stock (RMD)
ResMed (NYSE:RMD) Director Peter C. Farrell sold 25,000 shares of the stock on the open market in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.57, for a total transaction of $1,239,250.00. Following the sale, the director now directly owns 304,990 shares in the company, valued at approximately $15,118,354. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
ResMed (NYSE:RMD) traded up 0.90% on Wednesday, hitting $50.20. The stock had a trading volume of 338,233 shares. ResMed has a 52 week low of $41.52 and a 52 week high of $57.34. The stock’s 50-day moving average is $49.53 and its 200-day moving average is $46.. The company has a market cap of $7.045 billion and a P/E ratio of 21.83.
ResMed (NYSE:RMD) last announced its earnings results on Wednesday, April 23rd. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by $0.01. The company had revenue of $397.80 million for the quarter, compared to the consensus estimate of $401.00 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that ResMed will post $2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 17th. Stockholders of record on Tuesday, May 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, May 16th.
Several analysts have recently commented on the stock. Analysts at Northland Securities downgraded shares of ResMed from a “market perform” rating to an “underperform” rating in a research note on Tuesday, May 27th. They now have a $40.00 price target on the stock. Separately, analysts at Deutsche Bank upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Thursday, April 24th. They now have a $52.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of ResMed in a research note on Thursday, April 24th. They now have a $46.08 price target on the stock. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $45.90.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.