Key Points
- ResMed director Witte Jan De sold 2,055 shares on November 25 at an average price of $255 for proceeds of $524,025, reducing his holding by 32.54% to 4,261 shares valued at $1,086,555.
- ResMed beat quarterly expectations, reporting $2.55 EPS versus $2.49 and $1.34 billion in revenue (revenue up 9.1% YoY) and declared a $0.60 quarterly dividend (annualized $2.40, yield 0.9%).
- Analyst and market view: the stock has a $37.25B market cap and P/E of 26.84, with a consensus rating of "Moderate Buy" and a consensus price target of $297.45.
ResMed Inc. (NYSE:RMD - Get Free Report) Director Witte Jan De sold 2,055 shares of the firm's stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $255.00, for a total value of $524,025.00. Following the transaction, the director directly owned 4,261 shares of the company's stock, valued at $1,086,555. This represents a 32.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Witte Jan De also recently made the following trade(s):
- On Tuesday, November 11th, Witte Jan De sold 487 shares of ResMed stock. The shares were sold at an average price of $250.25, for a total transaction of $121,871.75.
ResMed Stock Performance
Shares of RMD opened at $255.23 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The firm's 50 day moving average is $262.31 and its 200-day moving average is $263.43. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The stock has a market capitalization of $37.25 billion, a P/E ratio of 26.84, a P/E/G ratio of 1.75 and a beta of 0.87.
ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business's quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be given a $0.60 dividend. The ex-dividend date is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.9%. ResMed's dividend payout ratio (DPR) is 24.56%.
Institutional Investors Weigh In On ResMed
Several institutional investors and hedge funds have recently modified their holdings of RMD. Norges Bank bought a new position in ResMed during the second quarter valued at about $306,452,000. First Trust Advisors LP boosted its stake in shares of ResMed by 285.1% during the 3rd quarter. First Trust Advisors LP now owns 445,198 shares of the medical equipment provider's stock worth $121,864,000 after acquiring an additional 329,588 shares in the last quarter. Swedbank AB increased its holdings in shares of ResMed by 445.1% during the 1st quarter. Swedbank AB now owns 397,319 shares of the medical equipment provider's stock valued at $88,940,000 after acquiring an additional 324,428 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of ResMed by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after acquiring an additional 320,240 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of ResMed in the 1st quarter valued at approximately $69,492,000. Institutional investors and hedge funds own 54.98% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on RMD shares. Robert W. Baird reduced their price objective on shares of ResMed from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Monday, November 3rd. Royal Bank Of Canada raised their price objective on shares of ResMed from $300.00 to $303.00 and gave the stock an "outperform" rating in a research note on Friday, October 31st. William Blair raised shares of ResMed to a "strong-buy" rating in a research note on Friday, August 1st. KeyCorp lifted their price target on ResMed from $298.00 to $299.00 and gave the company an "overweight" rating in a report on Friday, October 31st. Finally, Wells Fargo & Company initiated coverage on ResMed in a research note on Monday, October 13th. They issued an "equal weight" rating and a $280.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $297.45.
View Our Latest Analysis on RMD
ResMed Company Profile
(
Get Free Report)
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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