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 firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $83.53, for a total value of $1,670,600.00. Following the sale, the director now directly owns 314,800 shares in the company, valued at approximately $26,295,244. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
ResMed Inc. (NYSE:RMD) opened at $82.72 on Friday. The company has a market capitalization of $11,663.08, a P/E ratio of 28.64, a price-to-earnings-growth ratio of 1.82 and a beta of 0.79. ResMed Inc. has a 12-month low of $57.45 and a 12-month high of $87.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The company had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. equities analysts expect that ResMed Inc. will post 3.01 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.40 annualized dividend and a dividend yield of 1.69%. ResMed’s dividend payout ratio (DPR) is currently 56.68%.
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Hedge funds have recently made changes to their positions in the business. YorkBridge Wealth Partners LLC grew its stake in shares of ResMed by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 69 shares during the last quarter. Creative Planning grew its stake in shares of ResMed by 97.1% in the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after purchasing an additional 823 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of ResMed by 12.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after purchasing an additional 197 shares during the last quarter. Huntington National Bank purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $156,000. Finally, BB&T Investment Services Inc. purchased a new position in shares of ResMed in the 2nd quarter valued at approximately $214,000. Institutional investors own 60.00% of the company’s stock.
RMD has been the topic of several research analyst reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research report on Thursday, October 12th. Northland Securities reissued a “sell” rating and set a $55.00 target price on shares of ResMed in a research report on Friday, October 27th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research report on Friday, September 8th. Barclays PLC raised their target price on ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, September 25th. Finally, Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $67.57.
ResMed Company Profile
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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