Insider Selling: ResMed Inc. (RMD) Insider Sells 6,364 Shares of Stock
ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 6,364 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $76.94, for a total value of $489,646.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
David Pendarvis also recently made the following trade(s):
- On Tuesday, September 5th, David Pendarvis sold 6,364 shares of ResMed stock. The stock was sold at an average price of $77.21, for a total value of $491,364.44.
- On Thursday, August 3rd, David Pendarvis sold 6,364 shares of ResMed stock. The stock was sold at an average price of $72.10, for a total value of $458,844.40.
Shares of ResMed Inc. (RMD) traded up 0.30% during midday trading on Thursday, reaching $77.50. The company’s stock had a trading volume of 123,000 shares. The stock’s 50 day moving average price is $76.90 and its 200 day moving average price is $73.91. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of 32.29 and a beta of 0.77. ResMed Inc. has a one year low of $56.59 and a one year high of $81.87.
ResMed (NYSE:RMD) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The company had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 earnings per share. Analysts predict that ResMed Inc. will post $3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th were given a $0.35 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%. ResMed’s payout ratio is presently 58.09%.
A number of research firms recently commented on RMD. Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 8th. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BMO Capital Markets boosted their target price on ResMed from $61.00 to $70.00 and gave the stock 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, BidaskClub downgraded ResMed from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $68.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in RMD. BlackRock Inc. raised its position in 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 purchasing an additional 13,094,421 shares during the period. FMR LLC raised its position in 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 purchasing an additional 1,531,772 shares during the period. Koch Industries Inc. raised its position in ResMed by 17,065.2% in the second quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock valued at $973,000 after purchasing an additional 980,053 shares during the period. Morgan Stanley raised its position in 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 purchasing an additional 549,279 shares during the period. Finally, Vanguard Group Inc. raised its position in 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 purchasing an additional 508,392 shares during the period. 60.10% of the stock is currently owned by 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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