ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $70.67, for a total transaction of $1,413,400.00. Following the sale, the director now directly owns 321,557 shares in the company, valued at $22,724,433.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
ResMed Inc. (NYSE:RMD) traded down 0.47% during mid-day trading on Friday, hitting $69.29. 529,776 shares of the stock were exchanged. The stock has a market capitalization of $9.82 billion, a P/E ratio of 30.00 and a beta of 0.82. The firm has a 50-day moving average price of $70.71 and a 200-day moving average price of $65.54. ResMed Inc. has a 12-month low of $55.43 and a 12-month high of $73.46.
ResMed (NYSE:RMD) last announced its earnings results on Monday, January 23rd. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $530.40 million for the quarter, compared to analysts’ expectations of $518.60 million. ResMed had a return on equity of 22.82% and a net margin of 16.48%. ResMed’s quarterly revenue was up 16.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.69 earnings per share. Equities analysts predict that ResMed Inc. will post $2.82 earnings per share for the current fiscal year.
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A number of brokerages have weighed in on RMD. JPMorgan Chase & Co. cut shares of ResMed from an “overweight” rating to a “neutral” rating and set a $71.00 target price on the stock. in a report on Thursday. William Blair reaffirmed an “outperform” rating on shares of ResMed in a report on Thursday, April 13th. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a report on Wednesday, April 12th. Canaccord Genuity reaffirmed a “hold” rating and issued a $59.00 price objective on shares of ResMed in a report on Monday, February 6th. Finally, Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Tuesday, January 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. ResMed has a consensus rating of “Hold” and an average target price of $63.00.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FineMark National Bank & Trust raised its stake in shares of ResMed by 30.8% in the third quarter. FineMark National Bank & Trust now owns 1,700 shares of the medical equipment provider’s stock worth $110,000 after buying an additional 400 shares during the period. Sei Investments Co. raised its stake in shares of ResMed by 26.1% in the third quarter. Sei Investments Co. now owns 2,172 shares of the medical equipment provider’s stock worth $141,000 after buying an additional 450 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of ResMed during the third quarter worth approximately $147,000. Global X Management Co. LLC raised its stake in shares of ResMed by 73.9% in the third quarter. Global X Management Co. LLC now owns 2,393 shares of the medical equipment provider’s stock worth $155,000 after buying an additional 1,017 shares during the period. Finally, Pittenger & Anderson Inc. raised its stake in shares of ResMed by 385.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,985 shares of the medical equipment provider’s stock worth $185,000 after buying an additional 2,370 shares during the period. 62.51% of the stock is currently owned by institutional investors.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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