ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 7,140 shares of ResMed stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $77.43, for a total value of $552,850.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of ResMed Inc. (NYSE:RMD) traded down 0.09% during midday trading on Friday, hitting $77.39. The stock had a trading volume of 736,111 shares. The firm has a 50-day moving average of $77.07 and a 200 day moving average of $71.57. The firm has a market cap of $10.98 billion, a PE ratio of 33.94 and a beta of 0.84. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $79.63.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. The firm had revenue of $514.20 million during the quarter, compared to analysts’ expectations of $525.84 million. ResMed had a return on equity of 22.53% and a net margin of 15.96%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, analysts expect that ResMed Inc. will post $2.80 earnings per share for the current year.
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Several equities research analysts have issued reports on RMD shares. Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a report on Thursday, April 6th. J P Morgan Chase & Co downgraded ResMed from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $72.00 to $71.00 in a report on Thursday, April 20th. William Blair restated an “outperform” rating on shares of ResMed in a report on Thursday, April 13th. BidaskClub downgraded ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, BMO Capital Markets restated a “hold” rating on shares of ResMed in a report on Friday, May 12th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $64.50.
Institutional investors have recently bought and sold shares of the stock. Texas Permanent School Fund boosted its position in ResMed by 1.0% in the second quarter. Texas Permanent School Fund now owns 103,543 shares of the medical equipment provider’s stock valued at $8,063,000 after buying an additional 981 shares during the period. World Asset Management Inc boosted its position in ResMed by 2.4% in the second quarter. World Asset Management Inc now owns 10,670 shares of the medical equipment provider’s stock valued at $831,000 after buying an additional 247 shares during the period. Daiwa Securities Group Inc. boosted its position in ResMed by 9.1% in the second quarter. Daiwa Securities Group Inc. now owns 4,200 shares of the medical equipment provider’s stock valued at $327,000 after buying an additional 350 shares during the period. Pillar Pacific Capital Management LLC boosted its position in ResMed by 4.1% in the second quarter. Pillar Pacific Capital Management LLC now owns 42,820 shares of the medical equipment provider’s stock valued at $3,334,000 after buying an additional 1,675 shares during the period. Finally, American Research & Management Co. boosted its position in ResMed by 12.1% in the second quarter. American Research & Management Co. now owns 12,715 shares of the medical equipment provider’s stock valued at $990,000 after buying an additional 1,375 shares during the period. 60.73% of the stock is owned by hedge funds and other institutional investors.
ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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