ResMed Inc. (NYSE:RMD) Director Sells $1,801,201.50 in Stock
ResMed Inc. (NYSE:RMD) Director Richard Sulpizio sold 24,390 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $73.85, for a total transaction of $1,801,201.50. Following the completion of the sale, the director now owns 28,819 shares of the company’s stock, valued at approximately $2,128,283.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Richard Sulpizio also recently made the following trade(s):
- On Thursday, June 22nd, Richard Sulpizio sold 65,887 shares of ResMed stock. The shares were sold at an average price of $77.82, for a total transaction of $5,127,326.34.
ResMed Inc. (NYSE:RMD) traded down 0.08% during trading on Friday, reaching $72.56. The company’s stock had a trading volume of 421,738 shares. The company has a market cap of $10.32 billion, a P/E ratio of 30.23 and a beta of 0.83. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $79.63. The stock’s 50-day moving average is $76.66 and its 200 day moving average is $72.21.
ResMed (NYSE:RMD) last posted its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million during the quarter, compared to the consensus estimate of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 earnings per share. On average, equities analysts forecast that ResMed Inc. will post $3.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.93%. ResMed’s payout ratio is presently 54.77%.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. Commerzbank Aktiengesellschaft FI boosted its position in ResMed by 0.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock valued at $377,000 after buying an additional 14 shares during the period. Sawtooth Solutions LLC boosted its position in ResMed by 1.6% in the second quarter. Sawtooth Solutions LLC now owns 3,167 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 49 shares during the period. Morgan Dempsey Capital Management LLC boosted its position in ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 50 shares during the period. Intrust Bank NA boosted its position in ResMed by 1.0% in the first quarter. Intrust Bank NA now owns 7,101 shares of the medical equipment provider’s stock valued at $511,000 after buying an additional 73 shares during the period. Finally, Pacer Advisors Inc. boosted its position in ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 79 shares during the period. Institutional investors and hedge funds own 60.68% of the company’s stock.
A number of research firms recently commented on RMD. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 2nd. BMO Capital Markets upped their price objective on shares of ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a research report on Wednesday, August 2nd. Citigroup Inc. upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Needham & Company LLC restated a “sell” rating on shares of ResMed in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $65.63.
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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