ResMed Inc. (RMD) Insider David Pendarvis Sells 6,000 Shares
ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 6,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of C$63.95, for a total value of C$383,700.00. Following the sale, the insider now owns 87,061 shares of the company’s stock, valued at C$5,567,550.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
David Pendarvis also recently made the following trade(s):
- On Tuesday, September 6th, David Pendarvis sold 6,000 shares of ResMed stock. The shares were sold at an average price of C$67.18, for a total value of C$403,080.00.
- On Wednesday, August 3rd, David Pendarvis sold 6,000 shares of ResMed stock. The shares were sold at an average price of C$68.86, for a total value of C$413,160.00.
ResMed Inc. (NYSE:RMD) opened at 64.12 on Wednesday. The stock has a market capitalization of $9.02 billion, a PE ratio of 25.75 and a beta of 0.68. The company has a 50-day moving average price of $66.19 and a 200-day moving average price of $62.41. ResMed Inc. has a 12-month low of $50.77 and a 12-month high of $70.90.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.74. The business had revenue of $518.60 million for the quarter, compared to analyst estimates of $512.37 million. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 earnings per share. Analysts expect that ResMed Inc. will post $2.88 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th were issued a $0.33 dividend. The ex-dividend date was Tuesday, August 16th. This is a positive change from ResMed’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.06%. ResMed’s dividend payout ratio is currently 54.32%.
A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on ResMed in a research note on Tuesday. They set a “neutral” rating and a $64.00 price target for the company. Canaccord Genuity restated a “hold” rating and set a $57.00 price target on shares of ResMed in a research note on Monday, July 25th. Jefferies Group lifted their price objective on ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Needham & Company LLC reaffirmed an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Finally, Bank of America Corp. reaffirmed a “hold” rating and set a $65.00 price objective on shares of ResMed in a research report on Sunday, July 10th. Five analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of C$59.73.
Several hedge funds and other institutional investors have recently made changes to their positions in RMD. Renaissance Technologies LLC raised its position in shares of ResMed by 1.3% in the first quarter. Renaissance Technologies LLC now owns 1,283,100 shares of the company’s stock worth $74,189,000 after buying an additional 17,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of ResMed by 4.3% in the first quarter. Geode Capital Management LLC now owns 1,009,595 shares of the company’s stock worth $58,347,000 after buying an additional 41,250 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of ResMed during the second quarter worth $12,931,000. Panagora Asset Management Inc. raised its position in shares of ResMed by 1,525.7% in the first quarter. Panagora Asset Management Inc. now owns 659,537 shares of the company’s stock worth $38,134,000 after buying an additional 618,968 shares in the last quarter. Finally, Teachers Advisors Inc. raised its position in shares of ResMed by 32.0% in the first quarter. Teachers Advisors Inc. now owns 280,218 shares of the company’s stock worth $16,202,000 after buying an additional 67,854 shares in the last quarter. 61.07% of the stock is currently owned by institutional investors and hedge funds.
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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