Key Points
- ResMed CEO Michael Farrell sold 4,991 shares at an average price of $226.33, generating approximately $1.13 million. The transaction occurred under a pre-arranged Rule 10b5-1 trading plan, leaving him with 479,803 shares.
- ResMed reported quarterly EPS of $2.95, exceeding analyst expectations of $2.89, while revenue rose 8.6% year over year to $1.46 billion. The company also increased its quarterly dividend to $0.66 per share.
- Analysts maintain a consensus “Hold” rating, with a consensus price target of $241.69; seven analysts rate the stock a Buy and nine rate it a Hold.
ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael Farrell sold 4,991 shares of the company's stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $226.33, for a total value of $1,129,613.03. Following the completion of the sale, the chief executive officer directly owned 479,803 shares of the company's stock, valued at approximately $108,593,812.99. This trade represents a 1.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ResMed Stock Performance
Shares of NYSE:RMD opened at $226.52 on Friday. The company has a market capitalization of $31.86 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.42 and a beta of 0.75. The firm's 50 day simple moving average is $225.24 and its 200 day simple moving average is $213.87. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. ResMed Inc. has a fifty-two week low of $180.26 and a fifty-two week high of $284.05.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.06. ResMed had a net margin of 26.94% and a return on equity of 25.58%. The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.46 billion. During the same quarter in the previous year, the company earned $2.55 earnings per share. The business's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that ResMed Inc. will post 12.07 earnings per share for the current year.
ResMed Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th were given a dividend of $0.66 per share. This is a positive change from ResMed's previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 20th. ResMed's payout ratio is 25.31%.
Institutional Trading of ResMed
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in ResMed during the second quarter worth $2,400,375,000. State Street Corp grew its position in ResMed by 0.6% in the second quarter. State Street Corp now owns 6,680,735 shares of the medical equipment provider's stock valued at $1,301,942,000 after purchasing an additional 37,567 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ResMed by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider's stock valued at $1,105,651,000 after buying an additional 34,732 shares during the last quarter. First Trust Advisors LP lifted its position in ResMed by 1.3% during the 1st quarter. First Trust Advisors LP now owns 1,537,825 shares of the medical equipment provider's stock worth $345,211,000 after buying an additional 20,233 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in ResMed by 126.0% during the 4th 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 in the last quarter. Institutional investors own 54.98% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on RMD shares. Wells Fargo & Company cut their price objective on ResMed from $225.00 to $215.00 and set an "equal weight" rating on the stock in a report on Friday, August 7th. Mizuho lowered their target price on ResMed from $235.00 to $220.00 and set an "outperform" rating for the company in a research note on Wednesday, July 15th. Robert W. Baird set a $213.00 price objective on shares of ResMed in a report on Friday, August 7th. Piper Sandler cut their price objective on shares of ResMed from $233.00 to $225.00 and set a "neutral" rating on the stock in a research report on Friday, August 7th. Finally, Rothschild & Co Redburn started coverage on shares of ResMed in a research note on Wednesday, August 19th. They issued a "neutral" rating and a $230.00 target price for the company. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $241.69.
Read Our Latest Research Report on RMD
ResMed Company Profile
(
Get Free Report)
ResMed Inc (NYSE: RMD) develops, manufactures and distributes medical equipment and digital health solutions for sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its products include continuous positive airway pressure (CPAP), bilevel and other noninvasive ventilation devices, as well as masks, humidifiers, accessories and diagnostic equipment.
The company also provides cloud-connected software and digital health services that support patient monitoring, therapy management and communication among patients, clinicians and care providers.
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