ResMed Inc. (RMD) Insider David Pendarvis Sells 4,367 Shares

ResMed Inc. (NYSE:RMD) insider David Pendarvis sold 4,367 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $112.58, for a total transaction of $491,636.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

David Pendarvis also recently made the following trade(s):

  • On Wednesday, April 3rd, David Pendarvis sold 4,457 shares of ResMed stock. The stock was sold at an average price of $105.21, for a total transaction of $468,920.97.
  • On Monday, March 4th, David Pendarvis sold 4,457 shares of ResMed stock. The stock was sold at an average price of $103.61, for a total transaction of $461,789.77.

NYSE RMD traded up $1.13 on Thursday, reaching $113.30. The company’s stock had a trading volume of 340,700 shares, compared to its average volume of 973,549. ResMed Inc. has a twelve month low of $90.64 and a twelve month high of $118.50. The company has a current ratio of 2.38, a quick ratio of 1.69 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $16.26 billion, a price-to-earnings ratio of 32.10, a PEG ratio of 2.95 and a beta of 0.56.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.05. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The company had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. During the same period in the prior year, the company earned $0.92 EPS. ResMed’s revenue was up 11.9% on a year-over-year basis. As a group, research analysts predict that ResMed Inc. will post 3.63 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, May 8th. ResMed’s payout ratio is 41.93%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc lifted its holdings in ResMed by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 14,567,805 shares of the medical equipment provider’s stock valued at $1,680,251,000 after acquiring an additional 69,129 shares during the last quarter. BlackRock Inc. lifted its holdings in ResMed by 1.8% in the 1st quarter. BlackRock Inc. now owns 11,980,416 shares of the medical equipment provider’s stock valued at $1,245,605,000 after acquiring an additional 216,173 shares during the last quarter. WCM Investment Management LLC lifted its holdings in ResMed by 63.3% in the 1st quarter. WCM Investment Management LLC now owns 7,059,797 shares of the medical equipment provider’s stock valued at $734,008,000 after acquiring an additional 2,735,434 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in ResMed by 15,868.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock valued at $46,000 after acquiring an additional 5,241,994 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in ResMed by 0.5% in the 1st quarter. Geode Capital Management LLC now owns 2,030,769 shares of the medical equipment provider’s stock valued at $210,785,000 after acquiring an additional 9,970 shares during the last quarter. 67.27% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on RMD. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and increased their target price for the company from $109.00 to $119.00 in a research report on Monday, May 6th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Monday, April 1st. Deutsche Bank upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. upgraded shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $112.50.

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About ResMed

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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