ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of C$63.95, for a total value of C$383,700.00. Following the sale, the insider now owns 87,061 shares of the company’s stock, valued at C$5,567,550.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
David Pendarvis also recently made the following trade(s):
- On Tuesday, September 6th, David Pendarvis sold 6,000 shares of ResMed stock. The stock was sold at an average price of C$67.18, for a total value of C$403,080.00.
- On Wednesday, August 3rd, David Pendarvis sold 6,000 shares of ResMed stock. The shares were sold at an average price of C$68.86, for a total value of C$413,160.00.
ResMed Inc. (NYSE:RMD) opened at 64.50 on Friday. The firm has a market capitalization of $9.08 billion, a PE ratio of 25.90 and a beta of 0.68. The firm’s 50-day moving average price is $65.92 and its 200-day moving average price is $62.44. ResMed Inc. has a 1-year low of $50.77 and a 1-year high of $70.90.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The company earned $518.60 million during the quarter, compared to the consensus estimate of $512.37 million. During the same period last year, the firm earned $0.68 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post $2.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were given a dividend of $0.33 per share. This is an increase from ResMed’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Tuesday, August 16th. ResMed’s payout ratio is currently 54.32%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC increased its position in shares of ResMed by 27.7% in the first quarter. Aperio Group LLC now owns 35,053 shares of the company’s stock valued at $2,027,000 after buying an additional 7,597 shares in the last quarter. Virginia Retirement System bought a new position in shares of ResMed during the first quarter valued at about $622,000. CIBC World Markets Inc. bought a new position in shares of ResMed during the first quarter valued at about $264,000. Ngam Advisors L.P. bought a new position in shares of ResMed during the first quarter valued at about $1,080,000. Finally, TIAA CREF Investment Management LLC increased its position in shares of ResMed by 34.0% in the first quarter. TIAA CREF Investment Management LLC now owns 650,942 shares of the company’s stock valued at $37,637,000 after buying an additional 165,025 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.
RMD has been the subject of a number of analyst reports. Bank of America Corp. restated a “hold” rating and issued a $65.00 price target on shares of ResMed in a research report on Sunday, July 10th. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. lowered ResMed from an “overweight” rating to a “neutral” rating in a research report on Monday, September 19th. Needham & Company LLC lowered ResMed from a “hold” rating to an “underperform” rating in a research report on Monday, June 27th. Finally, Jefferies Group lowered ResMed from a “hold” rating to an “underperform” rating and dropped their price target for the company from $60.00 to $58.00 in a research 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’s stock. ResMed currently has a consensus rating of “Hold” and a consensus price target of C$60.10.
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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