ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 5,264 shares of the business’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of C$64.43, for a total value of C$339,159.52. Following the completion of the sale, the insider now directly owns 52,744 shares of the company’s stock, valued at approximately C$3,398,295.92. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
ResMed Inc. (NYSE:RMD) traded up 1.26% during mid-day trading on Tuesday, hitting $64.99. The company had a trading volume of 551,518 shares. ResMed Inc. has a 1-year low of $50.77 and a 1-year 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. The company has a 50 day moving average of $64.92 and a 200 day moving average of $62.92.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.74. The company earned $518.60 million during the quarter, compared to analyst estimates of $512.37 million. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. Analysts predict that ResMed Inc. will post $2.88 earnings per share for the current fiscal year.
The firm also recently announced 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 annualized dividend and a dividend yield of 2.03%. The ex-dividend date was Tuesday, August 16th. This is a positive change from ResMed’s previous quarterly dividend of $0.30. ResMed’s payout ratio is 54.32%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Matthews International Capital Management LLC raised its position in shares of ResMed by 18,735.4% in the first quarter. Matthews International Capital Management LLC now owns 1,224,300 shares of the company’s stock valued at $70,789,000 after buying an additional 1,217,800 shares during the period. Vanguard Group Inc. raised its position in shares of ResMed by 10.6% in the second quarter. Vanguard Group Inc. now owns 11,679,325 shares of the company’s stock valued at $738,483,000 after buying an additional 1,114,598 shares during the period. Columbia Wanger Asset Management LLC acquired a new position in shares of ResMed during the second quarter valued at about $66,139,000. Capital World Investors raised its position in shares of ResMed by 13.6% in the second quarter. Capital World Investors now owns 7,916,234 shares of the company’s stock valued at $500,543,000 after buying an additional 946,234 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of ResMed by 13.8% in the second quarter. BlackRock Fund Advisors now owns 5,908,048 shares of the company’s stock valued at $373,566,000 after buying an additional 718,599 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.
A number of research analysts have commented on the company. Canaccord Genuity reaffirmed a “hold” rating and set a $57.00 price target on shares of ResMed in a research report on Monday, July 25th. Jefferies Group upped their price target on ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Needham & Company LLC reaffirmed an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Finally, Northland Securities set a $50.00 price target on ResMed and gave the company a “sell” rating in a research report on Monday, August 29th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price 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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