ResMed Inc. (NYSE:RMD - Get Free Report) CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
ResMed Price Performance
ResMed stock traded up $0.46 during mid-day trading on Monday, hitting $214.45. 1,745,059 shares of the company were exchanged, compared to its average volume of 1,027,103. ResMed Inc. has a 1-year low of $172.19 and a 1-year high of $263.05. The business has a fifty day moving average of $225.64 and a 200 day moving average of $235.39. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $31.50 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75.
ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts expect that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio is currently 25.03%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on RMD shares. KeyCorp raised their price objective on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Piper Sandler boosted their price target on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. StockNews.com downgraded ResMed from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. Citigroup raised ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Finally, Morgan Stanley began coverage on ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $249.73.
Get Our Latest Stock Analysis on ResMed
Institutional Trading of ResMed
Hedge funds have recently bought and sold shares of the stock. Yousif Capital Management LLC increased its stake in ResMed by 0.5% in the 1st quarter. Yousif Capital Management LLC now owns 22,482 shares of the medical equipment provider's stock valued at $5,033,000 after buying an additional 101 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in ResMed by 11.9% during the 1st quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider's stock worth $693,000 after purchasing an additional 330 shares during the last quarter. Portside Wealth Group LLC grew its stake in shares of ResMed by 3.8% in the first quarter. Portside Wealth Group LLC now owns 1,457 shares of the medical equipment provider's stock valued at $326,000 after acquiring an additional 54 shares in the last quarter. Procyon Advisors LLC bought a new stake in shares of ResMed in the first quarter valued at approximately $207,000. Finally, Peak Financial Advisors LLC grew its holdings in shares of ResMed by 2.1% during the 1st quarter. Peak Financial Advisors LLC now owns 13,271 shares of the medical equipment provider's stock worth $2,971,000 after purchasing an additional 274 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
ResMed Company Profile
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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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