Key Points
- ResMed General Counsel Michael Rider sold 50 shares on January 2 at an average price of $241.75 for a total of $12,087.50, leaving him with 9,741 shares (a 0.51% reduction in his position).
- ResMed beat expectations last quarter with $2.55 EPS vs. $2.49 consensus and $1.34 billion revenue (up 9.1% year-over-year), and it recently declared a quarterly dividend of $0.60 ($2.40 annualized, ~1.0% yield).
- The company has a market cap of $35.81 billion and a P/E of 25.11, and analysts hold a consensus rating of "Moderate Buy" with an average price target of $296.09.
ResMed Inc. (NYSE:RMD - Get Free Report) General Counsel Michael Rider sold 50 shares of ResMed stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $241.75, for a total transaction of $12,087.50. Following the completion of the transaction, the general counsel directly owned 9,741 shares of the company's stock, valued at approximately $2,354,886.75. This represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ResMed Trading Up 0.2%
ResMed stock opened at $245.36 on Tuesday. The firm's 50-day moving average is $248.62 and its 200-day moving average is $263.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.13 and a current ratio of 2.89. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The company has a market cap of $35.81 billion, a P/E ratio of 25.11, a PEG ratio of 1.65 and a beta of 0.88.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Friday, October 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating analysts' consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.35% and a return on equity of 25.45%. The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.20 EPS. On average, equities analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, November 13th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, November 13th. ResMed's dividend payout ratio is presently 24.56%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Baird R W downgraded ResMed from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 16th. Morgan Stanley set a $305.00 price objective on shares of ResMed in a report on Friday, October 31st. Citigroup assumed coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a "buy" rating and a $330.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of ResMed from $300.00 to $303.00 and gave the stock an "outperform" rating in a research report on Friday, October 31st. Finally, UBS Group reaffirmed a "buy" rating and set a $345.00 price target on shares of ResMed in a report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, ResMed presently has an average rating of "Moderate Buy" and a consensus target price of $296.09.
Check Out Our Latest Analysis on ResMed
Hedge Funds Weigh In On ResMed
Several large investors have recently bought and sold shares of RMD. Entropy Technologies LP increased its holdings in ResMed by 188.7% in the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider's stock worth $4,227,000 after buying an additional 10,708 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of ResMed by 244.8% during the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider's stock worth $9,380,000 after purchasing an additional 25,810 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of ResMed by 0.7% during the 2nd quarter. American Century Companies Inc. now owns 175,901 shares of the medical equipment provider's stock valued at $45,382,000 after purchasing an additional 1,183 shares in the last quarter. Norges Bank acquired a new stake in shares of ResMed in the 2nd quarter valued at $306,452,000. Finally, Neuberger Berman Group LLC boosted its holdings in ResMed by 71.2% in the second quarter. Neuberger Berman Group LLC now owns 53,916 shares of the medical equipment provider's stock worth $13,910,000 after purchasing an additional 22,431 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.
ResMed Company Profile
(
Get Free Report)
ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.
ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.
Further Reading
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