ResMed Inc. (RMD) Reaches New 1-Year High at $64.18
ResMed Inc. (NYSE:RMD) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $64.18 and last traded at $64.02, with a volume of 491,096 shares changing hands. The stock had previously closed at $63.60.
Several equities research analysts have recently issued reports on the company. Needham & Company LLC lowered ResMed from a “hold” rating to an “underperform” rating in a report on Monday, June 27th. BMO Capital Markets restated a “hold” rating on shares of ResMed in a report on Wednesday, April 27th. Canaccord Genuity restated a “hold” rating on shares of ResMed in a report on Wednesday, April 27th. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, Macquarie upgraded ResMed from an “underperform” rating to a “neutral” rating in a report on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ResMed currently has an average rating of “Hold” and an average target price of C$58.93.
The stock’s 50 day moving average price is $60.14 and its 200-day moving average price is $57.74. The stock has a market cap of $8.89 billion and a price-to-earnings ratio of 25.96.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.01. The company earned $453.90 million during the quarter, compared to analyst estimates of $455.32 million. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. On average, equities analysts predict that ResMed Inc. will post $2.65 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, May 19th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, May 17th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.89%.
In other ResMed news, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of C$55.90, for a total value of C$1,118,000.00. Following the completion of the transaction, the director now directly owns 367,978 shares in the company, valued at C$20,569,970.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Pendarvis sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of C$56.02, for a total value of C$336,120.00. Following the completion of the transaction, the insider now owns 80,287 shares of the company’s stock, valued at C$4,497,677.74. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently bought and sold shares of RMD. Advisors Asset Management Inc. increased its position in ResMed by 370.0% in the fourth quarter. Advisors Asset Management Inc. now owns 20,878 shares of the company’s stock worth $1,121,000 after buying an additional 16,436 shares in the last quarter. Marshall Wace LLP bought a new position in ResMed during the fourth quarter worth $1,133,000. American Capital Management Inc. increased its position in ResMed by 2.3% in the fourth quarter. American Capital Management Inc. now owns 610,845 shares of the company’s stock worth $32,796,000 after buying an additional 13,545 shares in the last quarter. Schroder Investment Management Group increased its position in ResMed by 141.5% in the fourth quarter. Schroder Investment Management Group now owns 1,084,409 shares of the company’s stock worth $58,222,000 after buying an additional 635,354 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in ResMed by 3.4% in the fourth quarter. Principal Financial Group Inc. now owns 449,971 shares of the company’s stock worth $24,159,000 after buying an additional 14,894 shares in the last quarter.
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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