ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 6,651 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $132.35, for a total transaction of $880,259.85. Following the sale, the chief executive officer now directly owns 292,988 shares in the company, valued at $38,776,961.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
RMD traded up $0.67 during midday trading on Thursday, hitting $131.82. The stock had a trading volume of 1,592 shares, compared to its average volume of 562,304. The stock has a market capitalization of $18.91 billion, a P/E ratio of 36.20, a P/E/G ratio of 3.17 and a beta of 0.47. The company’s fifty day moving average is $126.12. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.43 and a current ratio of 2.06. ResMed Inc. has a 1 year low of $90.64 and a 1 year high of $135.45.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.03. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $701.56 million. ResMed had a return on equity of 26.49% and a net margin of 15.52%. ResMed’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, research analysts expect that ResMed Inc. will post 3.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Wednesday, August 14th. This is a positive change from ResMed’s previous quarterly dividend of $0.37. ResMed’s dividend payout ratio is 40.66%.
RMD has been the topic of several research analyst reports. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $122.00 to $140.00 in a research report on Monday, July 29th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Monday, July 8th. JPMorgan Chase & Co. upgraded shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price objective on the stock in a research report on Thursday, April 18th. Finally, Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. ResMed has a consensus rating of “Buy” and an average price target of $121.50.
Large investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in shares of ResMed during the second quarter valued at approximately $26,000. Farmers & Merchants Investments Inc. boosted its stake in shares of ResMed by 49.0% during the first quarter. Farmers & Merchants Investments Inc. now owns 295 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 97 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of ResMed during the second quarter valued at approximately $40,000. CSat Investment Advisory L.P. boosted its stake in shares of ResMed by 97.0% during the second quarter. CSat Investment Advisory L.P. now owns 388 shares of the medical equipment provider’s stock valued at $47,000 after purchasing an additional 191 shares during the period. Finally, Ossiam purchased a new stake in shares of ResMed during the second quarter valued at approximately $54,000. 66.54% of the stock is owned by hedge funds and other institutional investors.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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