ResMed Inc. (RMD) CEO Michael J. Farrell Sells 5,975 Shares
ResMed Inc. (NYSE:RMD) CEO Michael J. Farrell sold 5,975 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of C$64.25, for a total transaction of C$383,893.75. Following the sale, the chief executive officer now directly owns 203,781 shares in the company, valued at approximately C$13,092,929.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Michael J. Farrell also recently made the following trade(s):
- On Thursday, September 15th, Michael J. Farrell sold 5,975 shares of ResMed stock. The stock was sold at an average price of C$64.84, for a total transaction of C$387,419.00.
- On Monday, August 15th, Michael J. Farrell sold 5,975 shares of ResMed stock. The stock was sold at an average price of C$70.41, for a total transaction of C$420,699.75.
Shares of ResMed Inc. (NYSE:RMD) opened at 64.99 on Wednesday. ResMed Inc. has a 12 month low of $50.77 and a 12 month high of $70.90. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 26.10 and a beta of 0.68. The firm has a 50-day moving average price of $64.92 and a 200 day moving average price of $62.92.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.74. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The business had revenue of $518.60 million for the quarter, compared to the consensus estimate of $512.37 million. During the same period last year, the business earned $0.68 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that ResMed Inc. will post $2.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.03%. This is an increase from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, August 16th. ResMed’s dividend payout ratio (DPR) is presently 54.32%.
Several hedge funds and other institutional investors have recently modified their holdings of RMD. Quadrature Capital Ltd bought a new position in shares of ResMed during the first quarter worth $2,828,000. Scotia Capital Inc. bought a new position in shares of ResMed during the first quarter worth $510,000. State Street Corp increased 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 worth $258,909,000 after buying an additional 76,862 shares during the last quarter. Matthews International Capital Management LLC increased its position in shares of ResMed by 18,735.4% in the first quarter. Matthews International Capital Management LLC now owns 1,224,300 shares of the company’s stock worth $70,789,000 after buying an additional 1,217,800 shares during the last quarter. Finally, BB&T Securities LLC bought a new position in shares of ResMed during the first quarter worth $268,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on RMD. JPMorgan Chase & Co. began coverage on shares of ResMed in a research report on Tuesday, October 4th. They set a “neutral” rating and a $64.00 target price on the stock. Bank of America Corp. raised shares of ResMed from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $89.00 to $72.00 in a report on Thursday, September 29th. Zacks Investment Research downgraded shares of ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Monday, September 12th. Finally, Northland Securities set a $50.00 price objective on shares of ResMed and gave the company a “sell” rating in a report on Monday, August 29th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of C$60.44.
ResMed Company Profile
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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