Key Points
- Director Peter Farrell sold 2,000 shares on November 12 at an average price of $252.05 for a total of $504,100, reducing his holding by 2.94% to 66,110 shares (disclosed via SEC filing).
- ResMed posted quarterly results with EPS of $2.55 versus a $2.49 consensus and revenue of $1.34 billion, up 9.1% year‑over‑year with a 27.22% net margin.
- The company declared a quarterly dividend of $0.60 per share (annualized $2.40), with an ex‑dividend date of November 13 and a payment date of December 18, implying roughly a 1.0% yield.
ResMed Inc. (NYSE:RMD - Get Free Report) Director Witte Jan De sold 487 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $250.25, for a total value of $121,871.75. Following the completion of the sale, the director directly owned 5,319 shares of the company's stock, valued at $1,331,079.75. The trade was a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
ResMed Stock Performance
Shares of ResMed stock traded down $3.90 during trading on Friday, reaching $248.21. The company's stock had a trading volume of 169,926 shares, compared to its average volume of 1,015,132. The company has a 50-day moving average price of $266.91 and a two-hundred day moving average price of $262.73. ResMed Inc. has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The firm has a market cap of $36.22 billion, a PE ratio of 26.06, a P/E/G ratio of 1.75 and a beta of 0.87. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, topping analysts' consensus estimates of $2.49 by $0.06. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 EPS. On average, analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, November 13th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, November 13th. ResMed's dividend payout ratio (DPR) is presently 24.56%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of ResMed during the 2nd quarter worth approximately $306,452,000. Allianz Asset Management GmbH raised its holdings in ResMed by 334.0% during the first quarter. Allianz Asset Management GmbH now owns 455,124 shares of the medical equipment provider's stock worth $101,880,000 after purchasing an additional 350,245 shares during the last quarter. First Trust Advisors LP boosted its position in ResMed by 285.1% during the third quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider's stock worth $121,864,000 after purchasing an additional 329,588 shares in the last quarter. Swedbank AB grew its holdings in ResMed by 445.1% in the first quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock valued at $88,940,000 after purchasing an additional 324,428 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after buying an additional 320,240 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. William Blair raised ResMed to a "strong-buy" rating in a report on Friday, August 1st. Royal Bank Of Canada lifted their price objective on shares of ResMed from $300.00 to $303.00 and gave the company an "outperform" rating in a research report on Friday, October 31st. Wells Fargo & Company initiated coverage on shares of ResMed in a research report on Monday, October 13th. They set an "equal weight" rating and a $280.00 price objective for the company. Robert W. Baird lowered their target price on shares of ResMed from $320.00 to $300.00 and set an "outperform" rating on the stock in a report on Monday, November 3rd. Finally, Morgan Stanley set a $305.00 price target on shares of ResMed in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $297.45.
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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. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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