ResMed Inc. (RMD) Hits New 52-Week High at $65.14
Shares of ResMed Inc. (NYSE:RMD) hit a new 52-week high on Thursday . The stock traded as high as $65.14 and last traded at $64.90, with a volume of 246,807 shares changing hands. The stock had previously closed at $64.43.
Several equities analysts have commented on RMD shares. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, April 27th. Piper Jaffray Cos. cut ResMed from an “overweight” rating to a “neutral” rating and cut their price target for the company from $65.00 to $57.00 in a report on Wednesday, April 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Wednesday, April 27th. Canaccord Genuity reaffirmed a “hold” rating on shares of ResMed in a report on Wednesday, April 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a report on Wednesday, April 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of C$59.69.
The firm has a market capitalization of $9.10 billion and a PE ratio of 26.56. The firm’s 50 day moving average price is $61.35 and its 200-day moving average price is $58.19.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates 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 revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 EPS. Equities analysts anticipate that ResMed Inc. will post $2.66 earnings per share for the current fiscal year.
The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 17th.
In other news, insider David Pendarvis sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of C$63.62, for a total transaction of C$381,720.00. Following the completion of the sale, the insider now owns 80,512 shares in the company, valued at C$5,122,173.44. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James Hollingshead sold 2,753 shares of the business’s stock in a transaction that occurred on Thursday, July 14th. The stock was sold at an average price of C$65.02, for a total value of C$179,000.06. Following the sale, the insider now owns 40,669 shares of the company’s stock, valued at approximately C$2,644,298.38. The disclosure for this sale can be found here.
Other large investors have recently modified their holdings of the company. Sawtooth Asset Management Inc. purchased a new stake in shares of ResMed during the fourth quarter worth about $1,175,000. Mutual of America Capital Management LLC boosted its stake in shares of ResMed by 0.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 93,818 shares of the company’s stock worth $5,037,000 after buying an additional 275 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of ResMed by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 40,849 shares of the company’s stock worth $2,193,000 after buying an additional 400 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of ResMed by 454.4% in the fourth quarter. GSA Capital Partners LLP now owns 55,108 shares of the company’s stock worth $2,959,000 after buying an additional 45,168 shares in the last quarter. Finally, Liberty Mutual Group Asset Management Inc. boosted its stake in shares of ResMed by 49.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 89,442 shares of the company’s stock worth $4,802,000 after buying an additional 29,576 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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