ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 6,647 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $172.21, for a total transaction of $1,144,679.87. Following the sale, the chief executive officer now owns 361,347 shares of the company’s stock, valued at $62,227,566.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of RMD stock opened at $176.60 on Friday. ResMed Inc. has a fifty-two week low of $96.81 and a fifty-two week high of $176.70. The stock’s 50-day moving average is $161.81 and its two-hundred day moving average is $145.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.60 and a quick ratio of 1.85. The firm has a market cap of $25.05 billion, a P/E ratio of 56.24, a PEG ratio of 3.37 and a beta of 0.48.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $1.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.20. The business had revenue of $736.20 million during the quarter, compared to analyst estimates of $723.08 million. ResMed had a return on equity of 27.25% and a net margin of 16.34%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. As a group, research analysts expect that ResMed Inc. will post 4.29 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 13th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $1.56 dividend on an annualized basis and a yield of 0.88%. ResMed’s dividend payout ratio is currently 42.86%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Squar Milner Financial Services LLC raised its holdings in shares of ResMed by 342.9% during the 3rd quarter. Squar Milner Financial Services LLC now owns 217 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 168 shares in the last quarter. Lenox Wealth Advisors LLC bought a new stake in ResMed in the fourth quarter worth $32,000. Allworth Financial LP bought a new stake in ResMed in the fourth quarter worth $39,000. AdvisorNet Financial Inc boosted its holdings in ResMed by 26.0% in the third quarter. AdvisorNet Financial Inc now owns 392 shares of the medical equipment provider’s stock worth $53,000 after purchasing an additional 81 shares in the last quarter. Finally, FIL Ltd increased its position in ResMed by 2,783.3% during the fourth quarter. FIL Ltd now owns 346 shares of the medical equipment provider’s stock worth $54,000 after buying an additional 334 shares during the last quarter. 66.60% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on RMD. Oppenheimer started coverage on shares of ResMed in a report on Thursday, January 9th. They set a “hold” rating for the company. UBS Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating and set a $174.00 target price for the company. in a research report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. CLSA started coverage on shares of ResMed in a report on Monday, February 3rd. They set an “underperform” rating on the stock. Finally, KeyCorp assumed coverage on shares of ResMed in a report on Friday, November 22nd. They set a “sector weight” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $133.33.
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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