ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 118,392 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $82.70, for a total value of $9,791,018.40. Following the transaction, the director now directly owns 306,615 shares of the company’s stock, valued at approximately $25,357,060.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
ResMed Inc. (RMD) opened at $84.00 on Tuesday. ResMed Inc. has a fifty-two week low of $57.45 and a fifty-two week high of $87.81. The firm has a market capitalization of $11,786.54, a price-to-earnings ratio of 28.94, a P/E/G ratio of 1.85 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.72 and a quick ratio of 3.86.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The firm had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. During the same quarter last year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. equities analysts forecast that ResMed Inc. will post 3 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Wednesday, November 8th. ResMed’s payout ratio is currently 56.68%.
Institutional investors have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in ResMed by 17.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 42,898 shares of the medical equipment provider’s stock valued at $3,340,000 after acquiring an additional 6,316 shares during the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in ResMed in the second quarter valued at $6,194,000. Prudential Financial Inc. raised its position in ResMed by 50.5% in the second quarter. Prudential Financial Inc. now owns 131,997 shares of the medical equipment provider’s stock valued at $10,279,000 after purchasing an additional 44,266 shares during the period. Victory Capital Management Inc. raised its position in ResMed by 21.4% in the second quarter. Victory Capital Management Inc. now owns 21,597 shares of the medical equipment provider’s stock valued at $1,682,000 after purchasing an additional 3,809 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in ResMed by 2.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 47,056 shares of the medical equipment provider’s stock valued at $3,665,000 after purchasing an additional 1,306 shares during the period. Hedge funds and other institutional investors own 58.86% of the company’s stock.
Several equities research analysts have recently issued reports on RMD shares. BMO Capital Markets raised their price objective on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Needham & Company LLC restated a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Barclays PLC raised their price objective on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Zacks Investment Research cut ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. ResMed has an average rating of “Hold” and a consensus price target of $67.57.
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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