ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of C$64.70, for a total value of C$1,294,000.00. Following the completion of the transaction, the director now owns 364,063 shares in the company, valued at C$23,554,876.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of ResMed Inc. (NYSE:RMD) opened at 64.08 on Wednesday. The stock has a market cap of $9.02 billion, a price-to-earnings ratio of 25.73 and a beta of 0.68. The stock’s 50 day moving average price is $65.46 and its 200-day moving average price is $62.66. ResMed Inc. has a 52-week low of $50.77 and a 52-week high of $70.90.
ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The firm had revenue of $518.60 million for the quarter, compared to analyst estimates of $512.37 million. During the same quarter last year, the business earned $0.68 earnings per share. ResMed’s revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that ResMed Inc. will post $2.88 earnings per share for the current fiscal year.
The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 dividend on an annualized basis and a yield of 2.06%. This is a positive change from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio (DPR) is 54.32%.
A number of hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services Inc raised its stake in shares of ResMed by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 5,377 shares of the company’s stock worth $340,000 after buying an additional 18 shares during the period. Citigroup Inc. raised its stake in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock worth $100,000 after buying an additional 43 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of ResMed by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,240 shares of the company’s stock worth $1,533,000 after buying an additional 79 shares during the period. World Asset Management Inc raised its stake in shares of ResMed by 1.2% in the second quarter. World Asset Management Inc now owns 7,346 shares of the company’s stock worth $464,000 after buying an additional 85 shares during the period. Finally, Utah Retirement Systems raised its stake in shares of ResMed by 0.4% in the second quarter. Utah Retirement Systems now owns 25,383 shares of the company’s stock worth $1,605,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 60.99% of the company’s stock.
A number of brokerages have issued reports on RMD. Canaccord Genuity reissued a “hold” rating and issued a $57.00 target price on shares of ResMed in a research report on Monday, July 25th. Jefferies Group boosted their target price 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 reissued an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Finally, Northland Securities set a $50.00 target price 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 assigned a hold rating and three have assigned a buy rating to the stock. ResMed presently has a consensus rating of “Hold” and an average price target of C$60.44.
ResMed Company Profile
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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