ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 7,019 shares of the stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $84.16, for a total transaction of $590,719.04. Following the transaction, the insider now directly owns 66,409 shares of the company’s stock, valued at $5,588,981.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of ResMed Inc. (NYSE:RMD) traded down $0.63 during midday trading on Wednesday, reaching $85.03. 176,966 shares of the company were exchanged, compared to its average volume of 864,517. ResMed Inc. has a 1 year low of $57.45 and a 1 year high of $87.81. The firm has a market capitalization of $12,020.68, a price-to-earnings ratio of 29.52, a P/E/G ratio of 1.88 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72.
ResMed (NYSE:RMD) last announced its quarterly 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 net margin of 16.58% and a return on equity of 21.53%. The company had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. During the same quarter last year, the business earned $0.62 EPS. ResMed’s revenue for the quarter was up 12.5% on a year-over-year basis. analysts anticipate that ResMed Inc. will post 3 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, November 8th. ResMed’s dividend payout ratio is presently 56.68%.
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RMD has been the subject of a number of research analyst reports. Northland Securities reaffirmed a “sell” rating and issued a $55.00 target price on shares of ResMed in a report on Friday, October 27th. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Bank of America Corporation cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Finally, Barclays PLC raised their price objective on shares of ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, September 25th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $67.57.
A number of institutional investors have recently added to or reduced their stakes in RMD. FMR LLC increased its stake in ResMed by 38.2% during the 2nd 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 period. Koch Industries Inc. increased its stake in ResMed by 17,065.2% during the 2nd 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 period. BlackRock Inc. increased its stake in ResMed by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock worth $1,108,877,000 after buying an additional 904,939 shares during the period. Vanguard Group Inc. increased its stake in ResMed by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock worth $927,797,000 after buying an additional 378,964 shares during the period. Finally, First Trust Advisors LP increased its stake in ResMed by 191.8% during the 2nd quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock worth $27,255,000 after buying an additional 230,056 shares during the period. 60.38% of the stock is currently owned by hedge funds and other institutional investors.
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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