Key Points
- Director Peter Farrell sold 2,000 shares on Feb. 4 at an average of $251.31 for a total of $502,620, trimming his holding by 3% to 64,773 shares (≈$16.28M); the transaction was disclosed on an SEC Form 4.
- ResMed beat its latest quarter expectations with EPS $2.81 vs. $2.68 and revenue of $1.42B (up 11% YoY), and announced a quarterly dividend of $0.60 per share (ex-dividend Feb. 12, payable Mar. 19), a 0.9% yield.
- Shares trade near $271.86 with a market cap of $39.6B and a P/E of 26.9; analysts' consensus is a Moderate Buy with a $299.27 average price target.
ResMed Inc. (NYSE:RMD - Get Free Report) General Counsel Michael Rider sold 50 shares of the company's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $260.00, for a total value of $13,000.00. Following the sale, the general counsel owned 9,691 shares of the company's stock, valued at approximately $2,519,660. The trade was a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
ResMed Price Performance
Shares of ResMed stock opened at $271.86 on Friday. ResMed Inc. has a twelve month low of $199.92 and a twelve month high of $293.81. The stock has a market capitalization of $39.60 billion, a P/E ratio of 26.89, a PEG ratio of 1.77 and a beta of 0.87. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06. The business's fifty day moving average price is $251.78 and its 200 day moving average price is $263.41.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The company had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.40 billion. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm's revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.43 earnings per share. As a group, research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, February 12th will be issued a $0.60 dividend. The ex-dividend date is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 0.9%. ResMed's dividend payout ratio (DPR) is presently 23.74%.
Wall Street Analyst Weigh In
RMD has been the subject of several recent research reports. Mizuho dropped their price objective on shares of ResMed from $310.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, October 31st. Piper Sandler upped their price target on shares of ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Wall Street Zen upgraded ResMed from a "hold" rating to a "buy" rating in a report on Saturday. Robert W. Baird set a $281.00 price objective on ResMed in a research note on Friday, January 30th. Finally, UBS Group reaffirmed a "buy" rating and issued a $345.00 target price on shares of ResMed in a research report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $299.27.
Check Out Our Latest Report on ResMed
Institutional Trading of ResMed
Several large investors have recently modified their holdings of RMD. Jones Financial Companies Lllp lifted its stake in shares of ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider's stock worth $645,000 after acquiring an additional 994 shares in the last quarter. Truist Financial Corp increased its holdings in ResMed by 1.7% during the 2nd quarter. Truist Financial Corp now owns 10,660 shares of the medical equipment provider's stock worth $2,750,000 after purchasing an additional 183 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of ResMed in the 2nd quarter valued at approximately $83,000. Valeo Financial Advisors LLC acquired a new position in shares of ResMed in the 2nd quarter valued at approximately $232,000. Finally, Maryland State Retirement & Pension System boosted its stake in shares of ResMed by 4.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 7,096 shares of the medical equipment provider's stock valued at $1,831,000 after buying an additional 299 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
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.
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