ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 6,364 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $76.94, for a total value of $489,646.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
David Pendarvis also recently made the following trade(s):
- On Tuesday, September 5th, David Pendarvis sold 6,364 shares of ResMed stock. The shares were sold at an average price of $77.21, for a total value of $491,364.44.
- On Thursday, August 3rd, David Pendarvis sold 6,364 shares of ResMed stock. The shares were sold at an average price of $72.10, for a total value of $458,844.40.
Shares of ResMed Inc. (NYSE RMD) opened at 77.73 on Tuesday. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 32.39 and a beta of 0.77. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $81.87. The stock’s 50 day moving average is $77.70 and its 200-day moving average is $74.20.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.74 EPS. On average, analysts expect that ResMed Inc. will post $3.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend was Tuesday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is presently 58.09%.
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A number of analysts have commented on the company. BMO Capital Markets boosted their price objective on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a research note on Wednesday, August 2nd. Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 price objective on shares of ResMed in a research note on Thursday, October 12th. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. ResMed currently has a consensus rating of “Hold” and a consensus price target of $68.33.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Sawtooth Solutions LLC lifted its position in shares of ResMed by 1.6% in the 2nd quarter. Sawtooth Solutions LLC now owns 3,167 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 49 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of ResMed by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 69 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of ResMed by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock worth $194,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of ResMed by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,489 shares of the medical equipment provider’s stock worth $272,000 after acquiring an additional 82 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of ResMed by 0.3% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 33,200 shares of the medical equipment provider’s stock worth $2,392,000 after acquiring an additional 100 shares in the last quarter. 60.10% of the stock is owned by hedge funds and other institutional investors.
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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