Insider Selling: ResMed Inc. (RMD) Director Sells 20,000 Shares of Stock
ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $77.01, for a total transaction of $1,540,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
ResMed Inc. (NYSE RMD) traded down 0.01% during midday trading on Friday, hitting $77.29. 78,293 shares of the stock traded hands. The stock has a market capitalization of $10.99 billion, a PE ratio of 32.20 and a beta of 0.77. The firm’s 50 day moving average is $77.03 and its 200-day moving average is $73.94. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $81.87.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the Zacks’ 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 company had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. During the same quarter last year, the business earned $0.74 earnings per share. ResMed’s revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that ResMed Inc. will post $3.05 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were given a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.81%. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio (DPR) is presently 58.09%.
Institutional investors have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC grew its position in ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 69 shares during the last quarter. Creative Planning grew its position in ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after acquiring an additional 823 shares during the last quarter. Toronto Dominion Bank grew its position in ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after acquiring an additional 197 shares during the last quarter. Van ECK Associates Corp grew its position in ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after acquiring an additional 136 shares during the last quarter. Finally, Huntington National Bank bought a new position in ResMed in the second quarter valued at about $156,000. Hedge funds and other institutional investors own 60.10% of the company’s stock.
Several equities research analysts have issued reports on RMD shares. Bank of America Corporation lowered shares of ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Credit Suisse Group AG lowered shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Barclays PLC boosted their price target on shares of ResMed from $65.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, September 25th. Finally, BMO Capital Markets boosted their price target on shares of ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. ResMed currently has an average rating of “Hold” and an average price target of $68.50.
ResMed Company Profile
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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