Key Points
- Director Peter Farrell sold 2,000 ResMed shares on Dec. 3 at an average of $251.47 for a total of $502,940, reducing his holding by 2.83% to 68,773 shares.
- Recent results beat expectations: ResMed reported $2.55 EPS vs. $2.49 expected and $1.34B in revenue (up 9.1% YoY); shares traded near $254.49 and the company has a ~$37.1B market cap with a P/E of ~26.
- Dividend and analyst outlook: The company pays a $0.60 quarterly dividend ($2.40 annual, ~0.9% yield) and has a consensus "Moderate Buy" analyst rating with an average target around $297.45.
ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $251.47, for a total transaction of $502,940.00. Following the completion of the sale, the director owned 68,773 shares in the company, valued at approximately $17,294,346.31. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
ResMed Trading Up 1.2%
Shares of NYSE:RMD traded up $2.98 on Friday, hitting $254.49. The company had a trading volume of 63,507 shares, compared to its average volume of 1,008,884. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a quick ratio of 2.13, a current ratio of 2.89 and a debt-to-equity ratio of 0.07. The firm's 50-day simple moving average is $259.74 and its two-hundred day simple moving average is $263.46. The firm has a market capitalization of $37.14 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 1.70 and a beta of 0.87.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.06. The business had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.The business's revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. Equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Dividend Announcement
The firm also recently disclosed 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 of this dividend is Thursday, November 13th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed's dividend payout ratio is 24.56%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in RMD. IFP Advisors Inc grew its stake in shares of ResMed by 34.1% during the 3rd quarter. IFP Advisors Inc now owns 999 shares of the medical equipment provider's stock valued at $273,000 after acquiring an additional 254 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in ResMed by 10.5% during the third quarter. Swiss Life Asset Management Ltd now owns 42,023 shares of the medical equipment provider's stock valued at $11,503,000 after purchasing an additional 3,987 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of ResMed by 4.6% in the third quarter. CIBC Private Wealth Group LLC now owns 14,271 shares of the medical equipment provider's stock worth $3,906,000 after purchasing an additional 632 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of ResMed in the third quarter worth $5,531,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of ResMed during the 3rd quarter valued at $31,000. Institutional investors own 54.98% of the company's stock.
Wall Street Analyst Weigh In
RMD has been the topic of several recent analyst reports. Morgan Stanley set a $305.00 target price on ResMed in a research note on Friday, October 31st. Robert W. Baird dropped their price objective on ResMed from $320.00 to $300.00 and set an "outperform" rating on the stock in a research report on Monday, November 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of ResMed in a research report on Tuesday. UBS Group raised shares of ResMed to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Mizuho cut their price objective on ResMed from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, ResMed has an average rating of "Moderate Buy" and an average target price of $297.45.
Read Our Latest Research Report on ResMed
About ResMed
(
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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