ResMed Inc. (NYSE:RMD) insider James Hollingshead sold 7,140 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
ResMed Inc. (RMD) traded up 1.46% on Monday, reaching $73.62. The company’s stock had a trading volume of 446,986 shares. The stock has a market capitalization of $10.47 billion, a P/E ratio of 30.67 and a beta of 0.83. The firm has a 50 day moving average price of $76.52 and a 200 day moving average price of $72.27. ResMed Inc. has a 52 week low of $56.59 and a 52 week high of $79.63.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The company had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. During the same period in the previous year, the company earned $0.74 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post $3.03 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.90%. ResMed’s payout ratio is currently 54.77%.
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Several brokerages recently weighed in on RMD. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 8th. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. BMO Capital Markets increased their price objective on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 2nd. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a research report on Wednesday, August 2nd. Finally, Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. 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’s stock. ResMed presently has a consensus rating of “Hold” and an average target price of $65.63.
Several institutional investors have recently bought and sold shares of RMD. Commerzbank Aktiengesellschaft FI raised its position in ResMed by 0.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock valued at $377,000 after buying an additional 14 shares during the last quarter. Sawtooth Solutions LLC raised its position in ResMed by 1.6% in the second quarter. Sawtooth Solutions LLC now owns 3,167 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 49 shares during the last quarter. Morgan Dempsey Capital Management LLC raised its position in ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 50 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 69 shares during the last quarter. Finally, Intrust Bank NA raised its position in ResMed by 1.0% in the first quarter. Intrust Bank NA now owns 7,101 shares of the medical equipment provider’s stock valued at $511,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 60.66% of the company’s stock.
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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