ResMed Inc. (RMD) CEO Sells C$383,893.75 in Stock
ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 5,975 shares of the stock in a transaction dated Monday, October 17th. The stock was sold at an average price of C$64.25, for a total transaction of C$383,893.75. Following the transaction, the chief executive officer now directly owns 203,781 shares of the company’s stock, valued at C$13,092,929.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Michael J. Farrell also recently made the following trade(s):
- On Thursday, September 15th, Michael J. Farrell sold 5,975 shares of ResMed stock. The stock was sold at an average price of C$64.84, for a total transaction of C$387,419.00.
- On Monday, August 15th, Michael J. Farrell sold 5,975 shares of ResMed stock. The stock was sold at an average price of C$70.41, for a total transaction of C$420,699.75.
Shares of ResMed Inc. (NYSE:RMD) traded up 1.26% during mid-day trading on Tuesday, reaching $64.99. 551,518 shares of the company were exchanged. The company’s 50 day moving average price is $65.00 and its 200 day moving average price is $62.87. ResMed Inc. has a 12 month low of $50.77 and a 12 month high of $70.90. The firm has a market capitalization of $9.14 billion, a PE ratio of 26.10 and a beta of 0.68.
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ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting analysts’ consensus estimates of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The company had revenue of $518.60 million for the quarter, compared to the consensus estimate of $512.37 million. During the same period in the previous year, the firm earned $0.68 EPS. ResMed’s revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post $2.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 16th. ResMed’s payout ratio is 54.32%.
Several hedge funds have recently added to or reduced their stakes in the company. Aperio Group LLC increased its stake in ResMed by 27.7% in the first quarter. Aperio Group LLC now owns 35,053 shares of the company’s stock worth $2,027,000 after buying an additional 7,597 shares during the period. Ngam Advisors L.P. bought a new stake in ResMed during the first quarter worth approximately $1,080,000. Teachers Advisors Inc. increased its stake in ResMed by 32.0% in the first quarter. Teachers Advisors Inc. now owns 280,218 shares of the company’s stock worth $16,202,000 after buying an additional 67,854 shares during the period. BlackRock Inc. increased its stake in ResMed by 24.4% in the first quarter. BlackRock Inc. now owns 188,207 shares of the company’s stock worth $10,882,000 after buying an additional 36,971 shares during the period. Finally, BlackRock Group LTD increased its stake in ResMed by 3.8% in the first quarter. BlackRock Group LTD now owns 520,284 shares of the company’s stock worth $30,082,000 after buying an additional 19,230 shares during the period. Institutional investors own 60.95% of the company’s stock.
Several research analysts recently issued reports on RMD shares. Bank of America Corp. reissued a “hold” rating and set a $65.00 price target on shares of ResMed in a report on Sunday, July 10th. JPMorgan Chase & Co. started coverage on shares of ResMed in a report on Tuesday, October 4th. They issued a “neutral” rating and a $64.00 target price for the company. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Needham & Company LLC cut shares of ResMed from a “hold” rating to an “underperform” rating in a report on Monday, June 27th. Finally, Jefferies Group cut shares of ResMed from a “hold” rating to an “underperform” rating and dropped their target price for the company from $60.00 to $58.00 in a report on Tuesday, August 23rd. Five analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of C$60.44.
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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