ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 5,264 shares of the business’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of C$64.43, for a total transaction of C$339,159.52. Following the completion of the sale, the insider now owns 52,744 shares of the company’s stock, valued at approximately C$3,398,295.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
ResMed Inc. (NYSE:RMD) opened at 64.99 on Wednesday. ResMed Inc. has a 1-year low of $50.77 and a 1-year high of $70.90. The stock’s 50 day moving average price is $64.92 and its 200 day moving average price is $62.92. The stock has a market capitalization of $9.14 billion, a PE ratio of 26.10 and a beta of 0.68.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.74. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The firm earned $518.60 million during the quarter, compared to analyst estimates of $512.37 million. During the same period last year, the company posted $0.68 EPS. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that ResMed Inc. will post $2.88 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, August 16th. This is a positive change from ResMed’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.03%. ResMed’s dividend payout ratio (DPR) is presently 54.32%.
Large investors have recently made changes to their positions in the company. Citigroup Inc. raised its stake in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock worth $100,000 after buying an additional 43 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its stake in shares of ResMed by 102.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,692 shares of the company’s stock worth $107,000 after buying an additional 857 shares during the last quarter. Sei Investments Co. raised its stake in shares of ResMed by 35.4% in the second quarter. Sei Investments Co. now owns 1,722 shares of the company’s stock worth $109,000 after buying an additional 450 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of ResMed by 7.3% in the second quarter. Glenmede Trust Co. NA now owns 2,625 shares of the company’s stock worth $165,000 after buying an additional 179 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of ResMed by 18.9% in the second quarter. Pacer Advisors Inc. now owns 2,656 shares of the company’s stock worth $168,000 after buying an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.
Several equities research analysts have recently commented on RMD shares. Needham & Company LLC lowered shares of ResMed from a “hold” rating to an “underperform” rating in a report on Monday, June 27th. Zacks Investment Research lowered shares of ResMed from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Bank of America Corp. reiterated a “hold” rating and set a $65.00 price objective on shares of ResMed in a research note on Sunday, July 10th. Canaccord Genuity reiterated a “hold” rating and set a $57.00 price objective on shares of ResMed in a research note on Monday, July 25th. Finally, Jefferies Group boosted their price objective on shares of ResMed from $56.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of C$60.44.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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