Richard Sulpizio Sells 24,390 Shares of ResMed Inc. (RMD) Stock
ResMed Inc. (NYSE:RMD) Director Richard Sulpizio sold 24,390 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $73.85, for a total value of $1,801,201.50. Following the completion of the sale, the director now owns 28,819 shares in the company, valued at $2,128,283.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Richard Sulpizio also recently made the following trade(s):
- On Thursday, June 22nd, Richard Sulpizio sold 65,887 shares of ResMed stock. The shares were sold at an average price of $77.82, for a total value of $5,127,326.34.
Shares of ResMed Inc. (NYSE RMD) traded down 0.08% during trading on Friday, hitting $72.56. The stock had a trading volume of 421,738 shares. The stock’s 50 day moving average is $76.66 and its 200 day moving average is $72.21. ResMed Inc. has a 52 week low of $56.59 and a 52 week high of $79.63. The stock has a market capitalization of $10.32 billion, a price-to-earnings ratio of 30.23 and a beta of 0.83.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that ResMed Inc. will post $3.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.35 per share. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.93%. ResMed’s dividend payout ratio is currently 54.77%.
Several brokerages have recently issued reports on RMD. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 2nd. BMO Capital Markets lifted their price target on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, August 2nd. Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. ResMed has a consensus rating of “Hold” and a consensus target price of $65.63.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock valued at $959,731,000 after buying an additional 13,094,421 shares during the last quarter. FMR LLC boosted its stake in shares of ResMed by 38.2% in the second quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock valued at $431,601,000 after buying an additional 1,531,772 shares during the last quarter. Morgan Stanley boosted its stake in shares of ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock valued at $96,744,000 after buying an additional 549,279 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock valued at $830,225,000 after buying an additional 508,392 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of ResMed by 191.8% in the second quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock valued at $27,255,000 after buying an additional 230,056 shares during the last quarter. 60.68% of the stock is currently owned by hedge funds and other institutional investors.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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