ResMed Inc. (RMD) Insider Sells $590,719.04 in Stock
ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 7,019 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $84.16, for a total value of $590,719.04. Following the transaction, the insider now directly owns 66,409 shares in the company, valued at $5,588,981.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of ResMed Inc. (NYSE:RMD) opened at $85.11 on Friday. The stock has a market capitalization of $12,100.15, a price-to-earnings ratio of 29.71, a P/E/G ratio of 1.89 and a beta of 0.79. ResMed Inc. has a one year low of $58.53 and a one year 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 results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The business had revenue of $523.66 million during the quarter, compared to the consensus estimate of $506.08 million. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. equities analysts predict that ResMed Inc. will post 3 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 annualized dividend and a yield of 1.64%. ResMed’s dividend payout ratio (DPR) is presently 56.68%.
A number of research analysts recently weighed in on the company. J P Morgan Chase & Co boosted their target price on ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a report on Friday, September 8th. Northland Securities restated a “sell” rating and issued a $55.00 price target on shares of ResMed in a research note on Friday, October 27th. Finally, Barclays PLC boosted their price target on ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, October 27th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $67.57.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMD. Dimensional Fund Advisors LP lifted its position in shares of ResMed by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 376,787 shares of the medical equipment provider’s stock valued at $27,116,000 after acquiring an additional 12,601 shares during the period. Creative Planning lifted its position in shares of ResMed by 97.1% during the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after acquiring an additional 823 shares during the period. Aperio Group LLC lifted its position in shares of ResMed by 11.4% during the 2nd quarter. Aperio Group LLC now owns 57,911 shares of the medical equipment provider’s stock valued at $4,510,000 after acquiring an additional 5,949 shares during the period. State Treasurer State of Michigan lifted its position in shares of ResMed by 1.6% during the 2nd quarter. State Treasurer State of Michigan now owns 58,500 shares of the medical equipment provider’s stock valued at $4,555,000 after acquiring an additional 900 shares during the period. Finally, BB&T Corp lifted its position in shares of ResMed by 71.6% during the 2nd quarter. BB&T Corp now owns 49,519 shares of the medical equipment provider’s stock valued at $3,857,000 after acquiring an additional 20,667 shares during the period. Institutional investors and hedge funds own 60.38% of the company’s stock.
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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