ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 14,683 shares of the business's stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company's stock, valued at $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ResMed Stock Up 1.9 %
NYSE RMD opened at $216.95 on Friday. The stock has a market cap of $31.87 billion, a PE ratio of 33.32, a P/E/G ratio of 2.68 and a beta of 0.64. The company has a current ratio of 3.04, a quick ratio of 1.97 and a debt-to-equity ratio of 0.22. ResMed Inc. has a 12 month low of $132.24 and a 12 month high of $237.26. The stock's 50 day moving average is $193.54 and its 200 day moving average is $176.56.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The business's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.68 EPS. Research analysts predict that ResMed Inc. will post 7.59 EPS for the current fiscal year.
ResMed Announces Dividend
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The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Wednesday, May 8th. ResMed's dividend payout ratio is presently 29.49%.
Institutional Trading of ResMed
Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in shares of ResMed by 230.3% in the first quarter. Bank of New York Mellon Corp now owns 3,813,119 shares of the medical equipment provider's stock valued at $755,112,000 after purchasing an additional 2,658,709 shares in the last quarter. Norges Bank bought a new position in ResMed during the fourth quarter valued at $233,966,000. Morgan Stanley grew its stake in shares of ResMed by 102.4% in the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider's stock worth $344,481,000 after buying an additional 1,178,547 shares in the last quarter. LGT Capital Partners LTD. bought a new stake in shares of ResMed in the 4th quarter worth about $117,621,000. Finally, Los Angeles Capital Management LLC raised its position in shares of ResMed by 3,599.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider's stock valued at $98,823,000 after buying an additional 485,540 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. KeyCorp boosted their target price on shares of ResMed from $227.00 to $238.00 and gave the company an "overweight" rating in a research note on Friday, April 26th. Mizuho restated a "buy" rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. UBS Group increased their price objective on shares of ResMed from $175.00 to $180.00 and gave the stock a "neutral" rating in a research note on Thursday, January 25th. Royal Bank of Canada boosted their target price on shares of ResMed from $187.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, April 26th. Finally, Oppenheimer cut their price objective on shares of ResMed from $205.00 to $200.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $202.80.
Get Our Latest Analysis on ResMed
ResMed Company Profile
(
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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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