Key Points
- Michael Farrell sold 4,991 shares on April 7 at an average price of $225.50 under a pre-arranged Rule 10b5‑1 plan, trimming his stake by 1.06% and leaving him with 466,223 shares worth about $105.13 million.
- ResMed reported $2.81 EPS (beating the $2.68 estimate) and $1.42 billion in revenue on January 30, with revenue up 11% year‑over‑year and a market cap around $33.19 billion.
- The company pays a quarterly dividend of $0.60 (a 1.1% yield), and analysts' consensus is a Moderate Buy with an average price target of $298.82.
ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael Farrell sold 4,991 shares of the firm's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $225.50, for a total value of $1,125,470.50. Following the sale, the chief executive officer owned 466,223 shares of the company's stock, valued at $105,133,286.50. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ResMed Stock Performance
RMD stock opened at $227.86 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. The stock has a market cap of $33.19 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.53 and a beta of 0.93. The firm has a 50 day simple moving average of $244.16 and a 200 day simple moving average of $252.15. ResMed Inc. has a 52 week low of $202.00 and a 52 week high of $293.81.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. ResMed had a net margin of 27.53% and a return on equity of 25.20%. The business had revenue of $1.42 billion for the quarter, compared to analysts' expectations of $1.40 billion. During the same period in the previous year, the company posted $2.43 EPS. ResMed's revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Thursday, February 12th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, February 12th. ResMed's dividend payout ratio (DPR) is presently 23.74%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on RMD shares. Piper Sandler upped their price objective on shares of ResMed from $270.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, January 30th. KeyCorp reissued an "overweight" rating and issued a $302.00 price target on shares of ResMed in a research report on Friday, January 30th. Citigroup dropped their target price on shares of ResMed from $345.00 to $340.00 and set a "buy" rating on the stock in a report on Thursday. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. Finally, Royal Bank Of Canada raised their price target on ResMed from $311.00 to $314.00 and gave the company an "outperform" rating in a research report on Friday, January 30th. 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $298.82.
View Our Latest Analysis on RMD
Hedge Funds Weigh In On ResMed
Hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. raised its stake in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 86 shares in the last quarter. Imprint Wealth LLC acquired a new stake in shares of ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC bought a new stake in shares of ResMed in the 2nd quarter worth about $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed in the 4th quarter worth about $25,000. Finally, ORG Partners LLC increased its position in shares of ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after purchasing an additional 69 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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