ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael Farrell sold 4,993 shares of ResMed stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $235.35, for a total value of $1,175,102.55. Following the completion of the transaction, the chief executive officer owned 479,803 shares of the company's stock, valued at approximately $112,921,636.05. This represents a 1.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
ResMed Stock Performance
NYSE RMD opened at $238.96 on Friday. The stock has a market capitalization of $33.61 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.45 and a beta of 0.77. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $277.67. The company has a current ratio of 2.65, a quick ratio of 1.88 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $231.99 and a 200 day moving average of $224.50.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The medical equipment provider reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.67 by $0.24. The business had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.39 billion. ResMed had a return on equity of 26.42% and a net margin of 27.79%. The business's revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $2.55 earnings per share. Sell-side analysts anticipate that ResMed Inc. will post 12.14 EPS for the current fiscal year.
ResMed Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, November 12th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Thursday, November 12th. This represents a $2.64 dividend on an annualized basis and a yield of 1.1%. ResMed's dividend payout ratio (DPR) is currently 24.04%.
Institutional Trading of ResMed
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of ResMed in the 2nd quarter worth $2,400,375,000. Bank of New York Mellon Corp purchased a new stake in shares of ResMed in the second quarter valued at about $818,030,000. Deutsche Bank AG purchased a new stake in shares of ResMed in the second quarter valued at about $257,692,000. Legal & General Group Plc purchased a new stake in shares of ResMed in the second quarter valued at about $183,697,000. Finally, Bank of America Corp DE acquired a new stake in ResMed during the second quarter worth about $151,115,000. Institutional investors and hedge funds own 54.98% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on RMD shares. KeyCorp upped their price objective on shares of ResMed from $267.00 to $277.00 and gave the stock an "overweight" rating in a research report on Friday, October 30th. Piper Sandler reduced their price target on shares of ResMed from $233.00 to $225.00 and set a "neutral" rating for the company in a research report on Friday, August 7th. Weiss Ratings raised shares of ResMed from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Robert W. Baird set a $213.00 price objective on ResMed in a report on Friday, August 7th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of "Hold" and an average price target of $253.69.
Read Our Latest Analysis on ResMed
About ResMed
(
Get Free Report)
ResMed is a medical technology company that develops products and software for people with sleep apnea, chronic obstructive pulmonary disease and other respiratory conditions. Its devices include continuous positive airway pressure (CPAP) and bilevel machines, ventilators and related masks and accessories. The company also provides cloud-connected software for managing sleep and respiratory care, along with digital tools used by home medical equipment providers and post-acute care organizations.
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