Key Points
- Michael Farrell, ResMed's CEO, sold 4,991 shares on Feb. 9 at an average of $273.78 for about $1.37 million, reducing his position by 1.06% to 466,223 shares (≈$127.64M).
- ResMed beat quarterly expectations with $2.81 EPS (vs. $2.68) and $1.42B revenue (up 11% YoY), declared a $0.60 quarterly dividend (ex-dividend Feb. 12, payable Mar. 19), and carries a consensus analyst rating of "Moderate Buy" with a $299.27 target.
ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael Farrell sold 4,991 shares of the firm's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the completion of the sale, the chief executive officer owned 466,223 shares of the company's stock, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
ResMed Stock Performance
NYSE RMD opened at $263.21 on Wednesday. The stock has a market capitalization of $38.34 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 1.83 and a beta of 0.87. The business's 50 day moving average is $252.58 and its two-hundred day moving average is $263.24. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.81. The company has a current ratio of 3.06, a quick ratio of 2.32 and a debt-to-equity ratio of 0.06.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The business had revenue of $1.42 billion during the quarter, compared to analysts' expectations of $1.40 billion. During the same period last year, the firm earned $2.43 EPS. The company's quarterly revenue was up 11.0% compared to the same quarter last year. Research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, February 12th. ResMed's payout ratio is presently 23.74%.
Institutional Trading of ResMed
Several institutional investors and hedge funds have recently modified their holdings of RMD. Jones Financial Companies Lllp raised its position in shares of ResMed by 52.6% during the 1st quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider's stock worth $645,000 after purchasing an additional 994 shares during the last quarter. IFP Advisors Inc increased its position in ResMed by 101.4% during the second quarter. IFP Advisors Inc now owns 745 shares of the medical equipment provider's stock worth $192,000 after buying an additional 375 shares in the last quarter. Apollon Wealth Management LLC increased its position in ResMed by 28.9% during the second quarter. Apollon Wealth Management LLC now owns 1,915 shares of the medical equipment provider's stock worth $494,000 after buying an additional 429 shares in the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of ResMed by 2.8% in the second quarter. Johnson Investment Counsel Inc. now owns 1,665 shares of the medical equipment provider's stock worth $430,000 after acquiring an additional 45 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its position in shares of ResMed by 2.7% in the second quarter. Concurrent Investment Advisors LLC now owns 2,226 shares of the medical equipment provider's stock valued at $574,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.
Analysts Set New Price Targets
RMD has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on shares of ResMed from $260.00 to $265.00 and gave the company a "hold" rating in a report on Friday, January 30th. Mizuho dropped their target price on shares of ResMed from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 31st. Royal Bank Of Canada lifted their price target on shares of ResMed from $311.00 to $314.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. Robert W. Baird set a $281.00 price target on ResMed in a research note on Friday, January 30th. Finally, Weiss Ratings raised ResMed from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus price target of $299.27.
Read Our Latest Report on RMD
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.
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