ResMed Inc. (NYSE:RMD) insider Rajwant Sodhi sold 16,739 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $101.50, for a total value of $1,699,008.50. Following the transaction, the insider now owns 25,639 shares of the company’s stock, valued at approximately $2,602,358.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NYSE RMD opened at $102.43 on Friday. ResMed Inc. has a 52 week low of $90.64 and a 52 week high of $118.50. The company has a quick ratio of 1.76, a current ratio of 2.44 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 29.02, a P/E/G ratio of 2.69 and a beta of 0.54.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.95 by $0.05. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The business had revenue of $651.10 million during the quarter, compared to the consensus estimate of $676.77 million. During the same quarter last year, the company earned $1.00 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts forecast that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Shareholders of record on Thursday, February 7th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $1.48 annualized dividend and a yield of 1.44%. ResMed’s dividend payout ratio is currently 41.93%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Gravity Companies Inc. bought a new position in ResMed in the 4th quarter worth about $34,000. Executive Wealth Management LLC bought a new position in ResMed in the 4th quarter worth about $35,000. Parallel Advisors LLC boosted its stake in ResMed by 143.0% in the 4th quarter. Parallel Advisors LLC now owns 328 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 193 shares during the period. Altshuler Shaham Ltd boosted its stake in ResMed by 36.4% in the 4th quarter. Altshuler Shaham Ltd now owns 1,023 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 273 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its stake in ResMed by 15,868.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock worth $46,000 after purchasing an additional 5,241,994 shares during the period. Institutional investors and hedge funds own 69.44% of the company’s stock.
Several research analysts have recently weighed in on RMD shares. BMO Capital Markets upgraded ResMed from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $109.00 to $127.00 in a research note on Monday, December 10th. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. JPMorgan Chase & Co. downgraded ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price target for the company. in a research note on Friday, January 25th. Finally, Deutsche Bank downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $113.20.
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ResMed Company Profile
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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