ResMed Inc. (RMD) Insider Sells $489,646.16 in Stock

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.

About ResMed

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.

Insider Buying and Selling by Quarter for ResMed (NYSE:RMD)

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