Key Points
- CEO Michael Farrell sold 4,991 shares of ResMed on Jan. 7 at an average price of $248.46 for roughly $1.24M, leaving him with 466,223 shares (a 1.06% reduction), per an SEC filing.
- ResMed's most recent quarter beat expectations—EPS $2.55 vs. $2.49 and revenue $1.34B (+9.1% YoY)—with strong profitability (net margin 27.35%), and analysts forecast about 9.47 EPS for the current year.
- The company pays a quarterly dividend of $0.60 ($2.40 annual, ~1.0% yield, 24.56% payout ratio), and the stock carries a consensus rating of Moderate Buy with an average target of $296.09.
ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $248.46, for a total value of $1,240,063.86. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company's stock, valued at approximately $115,837,766.58. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
ResMed Stock Performance
Shares of RMD opened at $250.90 on Friday. The stock has a market capitalization of $36.62 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.67 and a beta of 0.88. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The business's fifty day moving average price is $248.33 and its 200 day moving average price is $263.17. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.89 and a quick ratio of 2.13.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.06. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a return on equity of 25.45% and a net margin of 27.35%.ResMed's quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 earnings per share. Equities research analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Dividend Announcement
The company 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. The ex-dividend date was Thursday, November 13th. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. ResMed's dividend payout ratio is currently 24.56%.
Analyst Upgrades and Downgrades
RMD has been the subject of several recent analyst reports. Citigroup assumed coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a "buy" rating and a $330.00 target price for the company. Weiss Ratings restated a "hold (c+)" rating on shares of ResMed in a research report on Monday, December 29th. Wells Fargo & Company initiated coverage on ResMed in a research report on Monday, October 13th. They set an "equal weight" rating and a $280.00 price target for the company. UBS Group reaffirmed a "buy" rating and issued a $345.00 price objective on shares of ResMed in a report on Friday, December 12th. Finally, Morgan Stanley set a $305.00 price objective on shares of ResMed in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $296.09.
View Our Latest Report on RMD
Institutional Investors Weigh In On ResMed
Hedge funds have recently modified their holdings of the stock. Johnson Investment Counsel Inc. raised its holdings in ResMed by 2.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider's stock worth $430,000 after buying an additional 45 shares during the period. Quadcap Wealth Management LLC raised its stake in ResMed by 2.5% during the 2nd quarter. Quadcap Wealth Management LLC now owns 1,880 shares of the medical equipment provider's stock valued at $485,000 after purchasing an additional 45 shares during the period. Terra Nova Asset Management LLC grew its holdings in shares of ResMed by 0.6% during the third quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider's stock valued at $2,136,000 after buying an additional 46 shares in the last quarter. NBT Bank N A NY raised its position in ResMed by 22.9% during the third quarter. NBT Bank N A NY now owns 252 shares of the medical equipment provider's stock valued at $69,000 after buying an additional 47 shares during the period. Finally, OFI Invest Asset Management lifted its stake in ResMed by 10.4% in the 3rd quarter. OFI Invest Asset Management now owns 509 shares of the medical equipment provider's stock worth $139,000 after acquiring an additional 48 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.
About ResMed
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
