ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 6,364 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $72.10, for a total value of $458,844.40. Following the transaction, the insider now directly owns 84,476 shares of the company’s stock, valued at $6,090,719.60. The sale was disclosed in a filing with the SEC, which is available at this link.
David Pendarvis also recently made the following trade(s):
- On Monday, July 3rd, David Pendarvis sold 6,364 shares of ResMed stock. The stock was sold at an average price of $77.36, for a total value of $492,319.04.
- On Monday, June 5th, David Pendarvis sold 6,365 shares of ResMed stock. The stock was sold at an average price of $72.62, for a total value of $462,226.30.
ResMed Inc. (NYSE RMD) traded up 2.23% during midday trading on Friday, hitting $75.09. The company had a trading volume of 1,181,814 shares. The company’s 50 day moving average is $77.30 and its 200 day moving average is $71.87. ResMed Inc. has a 12-month low of $56.59 and a 12-month high of $79.63. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 31.29 and a beta of 0.83.
ResMed (NYSE:RMD) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The firm had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post $3.05 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be issued a dividend of $0.35 per share. This is a boost from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.86%. ResMed’s payout ratio is presently 54.77%.
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A number of large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock valued at $959,731,000 after buying an additional 13,094,421 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock valued at $830,225,000 after buying an additional 508,392 shares during the last quarter. State Street Corp boosted its stake in shares of ResMed by 2.1% in the first quarter. State Street Corp now owns 4,598,911 shares of the medical equipment provider’s stock valued at $330,983,000 after buying an additional 95,552 shares during the last quarter. FMR LLC boosted its stake in shares of ResMed by 1.9% in the first quarter. FMR LLC now owns 4,010,810 shares of the medical equipment provider’s stock valued at $288,659,000 after buying an additional 74,389 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of ResMed by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,266,663 shares of the medical equipment provider’s stock valued at $176,505,000 after buying an additional 25,925 shares during the last quarter. 60.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the company. J P Morgan Chase & Co downgraded ResMed from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $72.00 to $71.00 in a research note on Thursday, April 20th. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday. BMO Capital Markets reissued a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Jefferies Group LLC reissued a “sell” rating and set a $56.00 target price on shares of ResMed in a research note on Friday, April 28th. Finally, BidaskClub downgraded ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $65.63.
About ResMed
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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