ResMed Inc. (RMD) Insider James Hollingshead Sells 5,264 Shares of Stock
ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 5,264 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was sold at an average price of C$64.43, for a total value of C$339,159.52. Following the transaction, the insider now directly owns 52,744 shares of the company’s stock, valued at C$3,398,295.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of ResMed Inc. (NYSE:RMD) opened at 64.99 on Wednesday. The stock has a market cap of $9.14 billion, a PE ratio of 26.10 and a beta of 0.68. ResMed Inc. has a one year low of $50.77 and a one year high of $70.90. The company has a 50-day moving average of $64.92 and a 200 day moving average of $62.92.
ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.74. The company earned $518.60 million during the quarter, compared to analysts’ expectations of $512.37 million. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. On average, analysts predict that ResMed Inc. will post $2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.03%. This is a boost from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 16th. ResMed’s payout ratio is 54.32%.
A number of large investors have recently added to or reduced their stakes in RMD. Aperio Group LLC raised its stake in ResMed by 27.7% in the first quarter. Aperio Group LLC now owns 35,053 shares of the company’s stock valued at $2,027,000 after buying an additional 7,597 shares in the last quarter. Ngam Advisors L.P. acquired a new stake in ResMed during the first quarter valued at approximately $1,080,000. Teachers Advisors Inc. raised its stake in ResMed by 32.0% in the first quarter. Teachers Advisors Inc. now owns 280,218 shares of the company’s stock valued at $16,202,000 after buying an additional 67,854 shares in the last quarter. BlackRock Inc. raised its stake in ResMed by 24.4% in the first quarter. BlackRock Inc. now owns 188,207 shares of the company’s stock valued at $10,882,000 after buying an additional 36,971 shares in the last quarter. Finally, BlackRock Group LTD raised its stake in ResMed by 3.8% in the first quarter. BlackRock Group LTD now owns 520,284 shares of the company’s stock valued at $30,082,000 after buying an additional 19,230 shares in the last quarter. 60.95% of the stock is owned by institutional investors.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on ResMed in a report on Tuesday, October 4th. They set a “neutral” rating and a $64.00 target price on the stock. Bank of America Corp. upgraded ResMed from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $89.00 to $72.00 in a report on Thursday, September 29th. Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a report on Monday, September 12th. Finally, Northland Securities set a $50.00 target price on ResMed and gave the stock a “sell” rating in a report on Monday, August 29th. 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 price target of C$60.44.
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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