ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $68.75, for a total transaction of $1,375,000.00. Following the sale, the director now directly owns 321,557 shares in the company, valued at $22,107,043.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. ResMed had a return on equity of 22.82% and a net margin of 16.48%. The business had revenue of $514.20 million for the quarter, compared to analysts’ expectations of $525.84 million. During the same quarter in the previous year, the business posted $0.68 EPS. ResMed’s revenue for the quarter was up 13.3% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 11th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Tuesday, May 9th. ResMed’s dividend payout ratio (DPR) is presently 57.39%.
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Several equities analysts have recently commented on the stock. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a research report on Wednesday, January 25th. Citigroup Inc lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. JPMorgan Chase & Co. upgraded shares of ResMed from a “neutral” rating to an “overweight” rating and set a $72.00 target price for the company in a research report on Tuesday, January 24th. Needham & Company LLC reiterated a “sell” rating on shares of ResMed in a research report on Tuesday, January 24th. Finally, Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 target price on shares of ResMed in a research report on Friday, April 28th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and an average price target of $63.75.
Several institutional investors have recently added to or reduced their stakes in RMD. BlackRock Inc. boosted its position in ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock valued at $959,731,000 after buying an additional 13,094,421 shares during the period. Vanguard Group Inc. boosted its stake in ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock valued at $830,225,000 after buying an additional 508,392 shares during the last quarter. Capital World Investors boosted its stake in ResMed by 7.3% in the third quarter. Capital World Investors now owns 8,497,000 shares of the medical equipment provider’s stock valued at $550,521,000 after buying an additional 580,766 shares during the last quarter. State Street Corp boosted its stake in ResMed by 2.1% in the first quarter. State Street Corp now owns 4,598,911 shares of the medical equipment provider’s stock valued at $330,983,000 after buying an additional 95,552 shares during the last quarter. Finally, FMR LLC boosted its stake in ResMed by 1.9% in the first quarter. FMR LLC now owns 4,010,810 shares of the medical equipment provider’s stock valued at $288,659,000 after buying an additional 74,389 shares during the last quarter. Institutional investors and hedge funds own 62.51% of the company’s stock.
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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