ResMed Inc. (NYSE:RMD – Get Rating) CEO Michael J. Farrell sold 5,675 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $232.41, for a total value of $1,318,926.75. Following the transaction, the chief executive officer now owns 405,229 shares in the company, valued at approximately $94,179,271.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of ResMed stock opened at $239.42 on Wednesday. The business’s 50 day simple moving average is $243.50 and its 200 day simple moving average is $249.95. ResMed Inc. has a 52-week low of $187.09 and a 52-week high of $301.34. The firm has a market cap of $35.01 billion, a PE ratio of 67.44, a P/E/G ratio of 2.36 and a beta of 0.33. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 2.49.
ResMed (NYSE:RMD – Get Rating) last announced its earnings results on Thursday, January 27th. The medical equipment provider reported $1.47 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.47. ResMed had a return on equity of 28.12% and a net margin of 15.16%. The business had revenue of $894.60 million for the quarter, compared to analyst estimates of $927.49 million. During the same quarter last year, the firm earned $1.41 EPS. ResMed’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, equities research analysts predict that ResMed Inc. will post 6.1 EPS for the current year.
A number of equities analysts have issued reports on RMD shares. The Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Sunday, January 30th. Robert W. Baird reduced their target price on ResMed from $300.00 to $280.00 in a report on Friday, January 28th. Royal Bank of Canada upgraded ResMed from an “underperform” rating to a “sector perform” rating and raised their target price for the stock from $234.00 to $241.00 in a report on Friday, January 28th. JPMorgan Chase & Co. upgraded ResMed from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $260.00 to $270.00 in a report on Monday, January 24th. Finally, Wolfe Research initiated coverage on ResMed in a report on Tuesday, April 5th. They set an “outperform” rating and a $280.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, ResMed has a consensus rating of “Buy” and a consensus price target of $267.11.
Institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in shares of ResMed during the 3rd quarter worth approximately $879,000. Signaturefd LLC increased its position in shares of ResMed by 12.2% during the 3rd quarter. Signaturefd LLC now owns 1,822 shares of the medical equipment provider’s stock worth $480,000 after purchasing an additional 198 shares during the last quarter. C WorldWide Group Holding A S increased its position in shares of ResMed by 1.9% during the 3rd quarter. C WorldWide Group Holding A S now owns 22,244 shares of the medical equipment provider’s stock worth $5,862,000 after purchasing an additional 414 shares during the last quarter. Nordea Investment Management AB increased its position in shares of ResMed by 96.7% during the 3rd quarter. Nordea Investment Management AB now owns 82,670 shares of the medical equipment provider’s stock worth $22,222,000 after purchasing an additional 40,639 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of ResMed by 79.1% during the 3rd quarter. SG Americas Securities LLC now owns 28,362 shares of the medical equipment provider’s stock worth $7,475,000 after purchasing an additional 12,523 shares during the last quarter. 63.75% of the stock is currently owned by institutional investors and hedge funds.
ResMed Company Profile (Get Rating)
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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