ResMed Inc. (RMD) Director Peter C. Farrell Sells 20,000 Shares
ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of ResMed stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $76.74, for a total transaction of $1,534,800.00. Following the completion of the sale, the director now owns 314,800 shares of the company’s stock, valued at approximately $24,157,752. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of ResMed Inc. (RMD) traded up 1.38% during trading on Wednesday, hitting $77.66. 397,902 shares of the stock traded hands. The stock has a 50-day moving average of $75.28 and a 200 day moving average of $72.93. ResMed Inc. has a 1-year low of $56.59 and a 1-year high of $79.63. The company has a market cap of $11.04 billion, a P/E ratio of 32.36 and a beta of 0.79.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The firm had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post $3.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.80%. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. ResMed’s dividend payout ratio is presently 58.09%.
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Several institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in shares of ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 197 shares in the last quarter. Tandem Investment Advisors Inc. lifted its holdings in shares of ResMed by 5.1% in the second quarter. Tandem Investment Advisors Inc. now owns 106,834 shares of the medical equipment provider’s stock worth $8,319,000 after buying an additional 5,137 shares in the last quarter. Koch Industries Inc. lifted its holdings in shares of ResMed by 17,065.2% in the second quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock worth $973,000 after buying an additional 980,053 shares in the last quarter. BB&T Investment Services Inc. purchased a new stake in shares of ResMed in the second quarter worth about $214,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of ResMed by 1.6% in the second quarter. Ameritas Investment Partners Inc. now owns 42,439 shares of the medical equipment provider’s stock worth $3,305,000 after buying an additional 681 shares in the last quarter. 60.25% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have weighed in on the stock. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. BMO Capital Markets reiterated a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Citigroup Inc. upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation cut shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. ResMed currently has an average rating of “Hold” and a consensus price target of $67.86.
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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