ResMed Inc. (NYSE:RMD) Short Interest Up 18.6% in October
ResMed Inc. (NYSE:RMD) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 2,740,000 shares, a growth of 18.6% from the September 30th total of 2,310,000 shares. Based on an average trading volume of 517,200 shares, the short-interest ratio is currently 5.3 days. Approximately 1.9% of the shares of the company are short sold.
NYSE:RMD traded up $0.14 during trading hours on Thursday, hitting $145.42. 303,495 shares of the company’s stock traded hands, compared to its average volume of 730,687. The firm has a market cap of $20.69 billion, a P/E ratio of 39.95, a P/E/G ratio of 2.75 and a beta of 0.41. ResMed has a 52 week low of $90.64 and a 52 week high of $149.96. The business’s fifty day simple moving average is $136.91 and its two-hundred day simple moving average is $127.07. The company has a quick ratio of 1.46, a current ratio of 2.11 and a debt-to-equity ratio of 0.60.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.06. The company had revenue of $681.06 million during the quarter, compared to analyst estimates of $660.87 million. ResMed had a return on equity of 26.72% and a net margin of 15.52%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $0.81 earnings per share. On average, analysts expect that ResMed will post 4.04 EPS for the current year.
A number of research firms have recently commented on RMD. Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. ValuEngine lowered ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, UBS Group raised ResMed from a “neutral” rating to a “buy” rating and raised their price target for the stock from $122.00 to $140.00 in a report on Monday, July 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $121.50.
In other news, insider David Pendarvis sold 4,367 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $147.85, for a total value of $645,660.95. Following the completion of the transaction, the insider now directly owns 128,781 shares of the company’s stock, valued at $19,040,270.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 6,651 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $143.94, for a total value of $957,344.94. The disclosure for this sale can be found here. Insiders sold 56,042 shares of company stock valued at $7,683,286 over the last ninety days. Corporate insiders own 1.22% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Banco Santander S.A. boosted its stake in ResMed by 4.5% during the third quarter. Banco Santander S.A. now owns 27,717 shares of the medical equipment provider’s stock valued at $3,745,000 after buying an additional 1,194 shares during the period. Great Lakes Advisors LLC boosted its stake in ResMed by 0.9% during the third quarter. Great Lakes Advisors LLC now owns 14,005 shares of the medical equipment provider’s stock valued at $1,892,000 after buying an additional 123 shares during the period. AE Wealth Management LLC bought a new stake in ResMed during the third quarter valued at $310,000. BBVA USA Bancshares Inc. bought a new stake in ResMed during the third quarter valued at $726,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in ResMed during the third quarter valued at $238,000. 66.53% of the stock is owned by institutional investors.
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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