ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $75.15, for a total value of $1,503,000.00. Following the completion of the transaction, the director now owns 321,557 shares in the company, valued at approximately $24,165,008.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
ResMed Inc. (RMD) traded up 0.38% during mid-day trading on Friday, reaching $73.07. The company’s stock had a trading volume of 529,536 shares. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $79.63. The firm has a market cap of $10.39 billion, a PE ratio of 30.45 and a beta of 0.83. The company has a 50-day moving average price of $75.87 and a 200-day moving average price of $72.42.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (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 business had revenue of $556.69 million during the quarter, compared to analyst estimates of $557.68 million. During the same quarter in the prior year, the business posted $0.74 EPS. ResMed’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that ResMed Inc. will post $3.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is presently 58.09%.
RMD has been the topic of a number of recent research reports. Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. BidaskClub lowered ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, BMO Capital Markets lifted their price target on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. ResMed presently has an average rating of “Hold” and an average price target of $65.63.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock worth $959,731,000 after buying an additional 13,094,421 shares during the last quarter. FMR LLC raised its position in shares of ResMed by 38.2% in the second quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock worth $431,601,000 after buying an additional 1,531,772 shares during the last quarter. Koch Industries Inc. raised its position in shares of ResMed by 17,065.2% in the second quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock worth $973,000 after buying an additional 980,053 shares during the last quarter. Morgan Stanley raised its position in shares of ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock worth $96,744,000 after buying an additional 549,279 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock worth $830,225,000 after buying an additional 508,392 shares during the last quarter. Hedge funds and other institutional investors own 60.66% of the company’s stock.
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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