Trade Report: The ResMed Inc. (RMD) Director Peter C. Farrell Sold 20,000 Shares

The ResMed Inc. (RMD) Director Peter C. Farrell Sold 20,000 Shares

ResMed Inc. (NYSE:RMD) Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of C$64.70, for a total transaction of C$1,294,000.00. Following the completion of the transaction, the director now directly owns 364,063 shares in the company, valued at approximately C$23,554,876.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ResMed Inc. (NYSE:RMD) opened at 63.93 on Monday. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 25.67 and a beta of 0.68. ResMed Inc. has a 1-year low of $50.77 and a 1-year high of $70.90. The company has a 50-day moving average of $65.76 and a 200-day moving average of $62.49.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.74. The firm had revenue of $518.60 million for the quarter, compared to the consensus estimate of $512.37 million. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The business’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 earnings per share. Analysts anticipate that ResMed Inc. will post $2.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Tuesday, August 16th. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio is currently 54.32%.

Several research firms have commented on RMD. Zacks Investment Research lowered shares of ResMed from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Bank of America Corp. upgraded shares of ResMed from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $89.00 to $72.00 in a research note on Thursday, September 29th. Canaccord Genuity reiterated a “hold” rating and issued a $57.00 price objective on shares of ResMed in a research note on Monday, July 25th. JPMorgan Chase & Co. began coverage on shares of ResMed in a research note on Tuesday, October 4th. They issued a “neutral” rating and a $64.00 price objective for the company. Finally, Barclays PLC reiterated an “underweight” rating and issued a $55.00 price objective on shares of ResMed in a research note on Friday, August 26th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of C$60.44.

Several hedge funds and other institutional investors have recently modified their holdings of RMD. Citigroup Inc. increased its position in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock valued at $100,000 after buying an additional 43 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its position in shares of ResMed by 102.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,692 shares of the company’s stock valued at $107,000 after buying an additional 857 shares in the last quarter. Sei Investments Co. increased its position in shares of ResMed by 35.4% in the second quarter. Sei Investments Co. now owns 1,722 shares of the company’s stock valued at $109,000 after buying an additional 450 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of ResMed by 7.3% in the second quarter. Glenmede Trust Co. NA now owns 2,625 shares of the company’s stock valued at $165,000 after buying an additional 179 shares in the last quarter. Finally, Pacer Advisors Inc. increased its position in shares of ResMed by 18.9% in the second quarter. Pacer Advisors Inc. now owns 2,656 shares of the company’s stock valued at $168,000 after buying an additional 422 shares in the last quarter. Hedge funds and other institutional investors own 60.99% of the company’s stock.

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