ResMed Inc. (RMD) Insider David Pendarvis Sells 6,000 Shares of Stock
ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 6,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of C$63.95, for a total value of C$383,700.00. Following the sale, the insider now directly owns 87,061 shares in the company, valued at approximately C$5,567,550.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
David Pendarvis also recently made the following trade(s):
- On Tuesday, September 6th, David Pendarvis sold 6,000 shares of ResMed stock. The stock was sold at an average price of C$67.18, for a total value of C$403,080.00.
- On Wednesday, August 3rd, David Pendarvis sold 6,000 shares of ResMed stock. The stock was sold at an average price of C$68.86, for a total value of C$413,160.00.
Shares of ResMed Inc. (NYSE:RMD) opened at 63.91 on Thursday. The company has a market capitalization of $8.99 billion, a P/E ratio of 25.67 and a beta of 0.68. The company has a 50-day moving average price of $66.04 and a 200 day moving average price of $62.42. ResMed Inc. has a 1-year low of $50.77 and a 1-year high of $70.90.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, meeting the consensus estimate of $0.74. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The business earned $518.60 million during the quarter, compared to analyst estimates of $512.37 million. During the same period in the prior year, the company earned $0.68 earnings per share. ResMed’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post $2.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.07%. This is a positive change from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 16th. ResMed’s dividend payout ratio is 54.32%.
A number of institutional investors have recently made changes to their positions in RMD. Vanguard Group Inc. raised its position in shares of ResMed by 10.6% in the second quarter. Vanguard Group Inc. now owns 11,679,325 shares of the company’s stock valued at $738,483,000 after buying an additional 1,114,598 shares during the period. Capital World Investors raised its position in shares of ResMed by 13.6% in the second quarter. Capital World Investors now owns 7,916,234 shares of the company’s stock valued at $500,543,000 after buying an additional 946,234 shares during the period. BlackRock Fund Advisors raised its position in shares of ResMed by 13.8% in the second quarter. BlackRock Fund Advisors now owns 5,908,048 shares of the company’s stock valued at $373,566,000 after buying an additional 718,599 shares during the period. State Street Corp raised its position in shares of ResMed by 1.7% in the first quarter. State Street Corp now owns 4,477,796 shares of the company’s stock valued at $258,909,000 after buying an additional 76,862 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of ResMed by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,364,339 shares of the company’s stock valued at $275,957,000 after buying an additional 93,967 shares during the period. 61.07% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on RMD. Canaccord Genuity reissued a “hold” rating and issued a $57.00 target price on shares of ResMed in a research report on Monday, July 25th. Jefferies Group lifted their target price on ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Needham & Company LLC reissued an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Bank of America Corp. restated a “hold” rating and issued a $65.00 price target on shares of ResMed in a research note on Sunday, July 10th. Finally, Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$59.73.
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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