Peter C. Farrell Sells 20,000 Shares of ResMed Inc. (RMD) Stock
ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 4th. The shares were sold at an average price of C$64.70, for a total value of C$1,294,000.00. Following the completion of the sale, the director now directly owns 364,063 shares of the company’s stock, valued at C$23,554,876.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
ResMed Inc. (NYSE:RMD) opened at 64.50 on Friday. The stock has a market cap of $9.08 billion, a PE ratio of 25.90 and a beta of 0.68. The stock has a 50 day moving average price of $65.92 and a 200-day moving average price of $62.44. ResMed Inc. has a 12 month low of $50.77 and a 12 month high of $70.90.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The company earned $518.60 million during 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 business’s revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, analysts expect that ResMed Inc. will post $2.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th were given a $0.33 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 annualized dividend and a dividend yield of 2.05%. ResMed’s dividend payout ratio (DPR) is presently 54.32%.
Several equities research analysts have recently commented on RMD shares. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research note on Monday, September 12th. Barclays PLC restated an “underweight” rating and set a $55.00 price target on shares of ResMed in a research note on Friday, August 26th. Jefferies Group cut ResMed from a “hold” rating to an “underperform” rating and cut their price target for the stock from $60.00 to $58.00 in a research note on Tuesday, August 23rd. Bank of America Corp. upgraded ResMed from a “neutral” rating to a “buy” rating and cut their price target for the stock from $89.00 to $72.00 in a research note on Thursday, September 29th. Finally, JPMorgan Chase & Co. started coverage on ResMed in a research note on Tuesday. They set a “neutral” rating and a $64.00 price target for the company. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of C$60.10.
Hedge funds and other institutional investors have recently modified their holdings of the company. OMERS ADMINISTRATION Corp purchased a new position in shares of ResMed during the first quarter valued at approximately $729,000. M&T Bank Corp raised its position in shares of ResMed by 26.2% in the first quarter. M&T Bank Corp now owns 16,066 shares of the company’s stock valued at $929,000 after buying an additional 3,337 shares during the last quarter. NN Investment Partners Holdings N.V. purchased a new position in shares of ResMed during the first quarter valued at approximately $9,752,000. JPMorgan Chase & Co. raised its position in shares of ResMed by 6.0% in the first quarter. JPMorgan Chase & Co. now owns 211,743 shares of the company’s stock valued at $12,244,000 after buying an additional 11,994 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of ResMed by 3.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,270,372 shares of the company’s stock valued at $246,913,000 after buying an additional 149,999 shares during the last quarter. Institutional investors own 61.07% of the company’s stock.
ResMed Company Profile
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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