Key Points
- ResMed CEO Michael Farrell sold 4,991 shares on March 9 at an average price of $251.03 for roughly $1.25M, trimming his stake by 1.06% to 466,223 shares (≈$117.0M).
- Quarterly results beat expectations: ResMed reported $2.81 EPS vs. $2.68 expected and $1.42B in revenue (up 11% YoY), while analysts hold a "Moderate Buy" consensus with an average target of $299.27.
- The company declared a quarterly dividend of $0.60 per share (annualized $2.40, yield ~1.0%), with an ex-dividend date of Feb 12 and a payment date of Mar 19; the dividend payout ratio is 23.74%.
ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael Farrell sold 4,991 shares of the company's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the sale, the chief executive officer directly owned 466,223 shares of the company's stock, valued at $117,035,959.69. The trade was a 1.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
ResMed Price Performance
Shares of NYSE:RMD traded down $1.98 during midday trading on Thursday, hitting $238.17. The company's stock had a trading volume of 54,464 shares, compared to its average volume of 1,074,632. The company has a market cap of $34.70 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 1.64 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 50 day simple moving average is $255.49 and its 200 day simple moving average is $259.12. 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 released its quarterly earnings data on Thursday, January 29th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.68 by $0.13. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.40 billion. ResMed had a net margin of 27.53% and a return on equity of 25.20%. ResMed's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.43 EPS. On average, analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors 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 yield of 1.0%. The ex-dividend date is Thursday, February 12th. ResMed's dividend payout ratio (DPR) is presently 23.74%.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Entropy Technologies LP lifted its holdings in shares of ResMed by 188.7% in the second quarter. Entropy Technologies LP now owns 16,384 shares of the medical equipment provider's stock valued at $4,227,000 after purchasing an additional 10,708 shares in the last quarter. Quantbot Technologies LP lifted its stake in ResMed by 244.8% in the 2nd quarter. Quantbot Technologies LP now owns 36,355 shares of the medical equipment provider's stock valued at $9,380,000 after buying an additional 25,810 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in ResMed by 44.8% in the 3rd quarter. Allianz Asset Management GmbH now owns 357,421 shares of the medical equipment provider's stock valued at $97,837,000 after buying an additional 110,647 shares in the last quarter. WCM Investment Management LLC acquired a new stake in ResMed during the 3rd quarter valued at $3,110,000. Finally, Nordea Investment Management AB increased its position in ResMed by 3.5% during the third quarter. Nordea Investment Management AB now owns 790,872 shares of the medical equipment provider's stock worth $217,387,000 after buying an additional 26,629 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have issued reports on RMD. Piper Sandler raised their target price on ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, January 30th. Royal Bank Of Canada increased their price target on ResMed from $311.00 to $314.00 and gave the stock an "outperform" rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 price objective on ResMed in a research report on Friday, January 30th. Citigroup upped their target price on shares of ResMed from $330.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Finally, KeyCorp reaffirmed an "overweight" rating and set a $302.00 target price on shares of ResMed in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $299.27.
Check Out Our Latest Research 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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