Key Points
- Director Peter Farrell sold 2,000 shares at an average price of $260.22 (totaling $520,440), trimming his stake by 3.09% to 62,773 shares valued at about $16.33 million.
- ResMed beat expectations with $2.81 EPS vs. $2.68 expected and revenue of $1.42 billion (up 11% year-over-year), reporting a 27.53% net margin and 25.20% return on equity.
- The company declared a quarterly dividend of $0.60 (annualized $2.40, 1.0% yield, ex-dividend Feb. 12, payable Mar. 19), while the stock recently traded near $251.27 (down 1.6%) and carries a consensus analyst target around $299.27.
ResMed Inc. (NYSE:RMD - Get Free Report) Director Peter Farrell sold 2,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $260.22, for a total value of $520,440.00. Following the completion of the sale, the director directly owned 62,773 shares of the company's stock, valued at $16,334,790.06. This trade represents a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
ResMed Trading Down 1.6%
Shares of RMD stock traded down $4.05 on Friday, hitting $251.27. 272,006 shares of the stock traded hands, compared to its average volume of 1,084,225. 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 $36.61 billion, a PE ratio of 24.85, a PEG ratio of 1.72 and a beta of 0.88. The firm's 50-day moving average price is $255.06 and its two-hundred day moving average price is $260.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06.
ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 29th. The medical equipment provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed's revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $2.43 EPS. As a group, analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 12th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, February 12th. This represents a $2.40 annualized dividend and a yield of 1.0%. ResMed's dividend payout ratio (DPR) is 23.74%.
Institutional Trading of ResMed
Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in ResMed in the 2nd quarter valued at about $306,452,000. First Trust Advisors LP grew its position in shares of ResMed by 240.9% during the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider's stock worth $365,542,000 after buying an additional 1,072,394 shares in the last quarter. Deutsche Bank AG increased its stake in shares of ResMed by 126.0% during the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider's stock worth $340,464,000 after buying an additional 787,949 shares during the period. Morgan Stanley raised its holdings in ResMed by 25.0% in the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider's stock valued at $696,523,000 after acquiring an additional 578,559 shares in the last quarter. Finally, Swedbank AB raised its holdings in ResMed by 103.1% in the fourth quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider's stock valued at $265,553,000 after acquiring an additional 559,765 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on RMD. Royal Bank Of Canada raised their price objective on ResMed from $311.00 to $314.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. UBS Group reiterated a "buy" rating and set a $345.00 price target on shares of ResMed in a research report on Friday, December 12th. KeyCorp reissued an "overweight" rating and issued a $302.00 price target on shares of ResMed in a research note on Friday, January 30th. Wall Street Zen raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Saturday, February 7th. Finally, Weiss Ratings upgraded shares of ResMed from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $299.27.
Check Out Our Latest Stock Report on RMD
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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