Insider Selling: ResMed Inc. (RMD) Director Sells $1,670,600.00 in Stock
ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of ResMed stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $83.53, for a total value of $1,670,600.00. Following the sale, the director now owns 314,800 shares of the company’s stock, valued at approximately $26,295,244. The transaction was disclosed in a document filed with the SEC, which is available at this link.
ResMed Inc. (NYSE RMD) opened at $83.06 on Friday. The firm has a market capitalization of $11,738.29, a PE ratio of 28.82, a PEG ratio of 1.84 and a beta of 0.79. ResMed Inc. has a 52 week low of $57.45 and a 52 week high of $87.81. The company has a quick ratio of 3.86, a current ratio of 4.72 and a debt-to-equity ratio of 0.50.
ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The company’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. sell-side analysts anticipate that ResMed Inc. will post 3 earnings per share for the current fiscal year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, November 8th. ResMed’s dividend payout ratio is currently 56.68%.
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Several research firms have commented on RMD. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a report on Thursday, October 12th. Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. BidaskClub cut ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. BMO Capital Markets lifted their price target on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Finally, Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.57.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sawtooth Solutions LLC lifted its stake in shares of ResMed by 1.6% in the 2nd quarter. Sawtooth Solutions LLC now owns 3,167 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 49 shares in the last quarter. YorkBridge Wealth Partners LLC lifted its stake in shares of ResMed by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 69 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of ResMed by 2.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,489 shares of the medical equipment provider’s stock valued at $272,000 after purchasing an additional 82 shares in the last quarter. Atria Investments LLC lifted its stake in shares of ResMed by 3.9% in the 2nd quarter. Atria Investments LLC now owns 4,742 shares of the medical equipment provider’s stock valued at $369,000 after purchasing an additional 178 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of ResMed by 12.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after purchasing an additional 197 shares in the last quarter. 60.00% of the stock is currently owned by institutional investors and hedge funds.
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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