ResMed (NYSE:RMD) Hits New 1-Year High at $151.50
Shares of ResMed Inc. (NYSE:RMD) reached a new 52-week high during trading on Friday . The company traded as high as $151.50 and last traded at $150.83, with a volume of 2781 shares. The stock had previously closed at $150.18.
Several equities analysts recently commented on RMD shares. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. ValuEngine downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, KeyCorp assumed coverage on shares of ResMed in a research note on Friday, November 22nd. They issued a “sector weight” rating for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $121.50.
The company has a quick ratio of 1.46, a current ratio of 2.11 and a debt-to-equity ratio of 0.60. The business has a 50 day simple moving average of $143.78 and a two-hundred day simple moving average of $131.14. The firm has a market cap of $21.51 billion, a PE ratio of 41.52, a price-to-earnings-growth ratio of 2.86 and a beta of 0.41.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, November 6th. This represents a $1.56 dividend on an annualized basis and a yield of 1.03%. ResMed’s payout ratio is 42.86%.
In other ResMed news, CEO Michael J. Farrell sold 6,651 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $137.38, for a total value of $913,714.38. Following the completion of the sale, the chief executive officer now directly owns 310,975 shares in the company, valued at approximately $42,721,745.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider James Hollingshead sold 20,038 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $146.35, for a total value of $2,932,561.30. Following the completion of the sale, the insider now owns 82,349 shares of the company’s stock, valued at $12,051,776.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,114 shares of company stock valued at $10,440,768. 1.22% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its holdings in shares of ResMed by 4.3% in the 2nd quarter. Asset Management One Co. Ltd. now owns 76,848 shares of the medical equipment provider’s stock valued at $9,377,000 after purchasing an additional 3,157 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in ResMed by 748.7% during the third quarter. Voloridge Investment Management LLC now owns 64,316 shares of the medical equipment provider’s stock valued at $8,690,000 after buying an additional 56,738 shares during the period. Banco Santander S.A. purchased a new position in ResMed during the second quarter valued at approximately $3,237,000. California Public Employees Retirement System raised its stake in ResMed by 24.5% in the third quarter. California Public Employees Retirement System now owns 327,148 shares of the medical equipment provider’s stock worth $44,201,000 after buying an additional 64,332 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in ResMed by 3.5% in the third quarter. Public Employees Retirement System of Ohio now owns 57,728 shares of the medical equipment provider’s stock worth $7,800,000 after buying an additional 1,971 shares in the last quarter. Hedge funds and other institutional investors own 66.48% of the company’s stock.
About ResMed (NYSE:RMD)
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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