ResMed Inc. (NYSE:RMD) Director Ronald R. Taylor sold 4,429 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $136.34, for a total transaction of $603,849.86. Following the completion of the transaction, the director now owns 19,855 shares of the company’s stock, valued at $2,707,030.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of RMD stock traded down $1.40 during trading on Thursday, hitting $135.16. 3,154 shares of the company were exchanged, compared to its average volume of 575,130. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.43 and a current ratio of 2.06. The firm has a market capitalization of $19.62 billion, a price-to-earnings ratio of 37.17, a P/E/G ratio of 3.27 and a beta of 0.47. The business’s 50-day simple moving average is $127.97 and its 200 day simple moving average is $112.15. ResMed Inc. has a twelve month low of $90.64 and a twelve month high of $137.38.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 EPS for the quarter, topping the consensus estimate of $0.92 by $0.03. The business had revenue of $705.00 million during the quarter, compared to analysts’ expectations of $701.56 million. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. On average, equities analysts forecast that ResMed Inc. will post 3.92 earnings per share for the current fiscal year.
Several research analysts have commented on RMD shares. UBS Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating and raised their target price for the stock from $122.00 to $140.00 in a report on Monday, July 29th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $131.00 target price for the company in a report on Monday, July 8th. Finally, Goldman Sachs Group upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $121.50.
Several hedge funds have recently bought and sold shares of RMD. WCM Investment Management LLC lifted its stake in ResMed by 63.3% in the first 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. Invesco Ltd. lifted its stake in ResMed by 208.2% in the second quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock valued at $238,584,000 after acquiring an additional 1,320,770 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in ResMed by 13,733.4% in the second quarter. Nuveen Asset Management LLC now owns 542,824 shares of the medical equipment provider’s stock valued at $66,241,000 after acquiring an additional 538,900 shares during the last quarter. OppenheimerFunds Inc. lifted its stake in ResMed by 80.4% in the first quarter. OppenheimerFunds Inc. now owns 762,303 shares of the medical equipment provider’s stock valued at $79,256,000 after acquiring an additional 339,632 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its stake in ResMed by 66.9% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 773,844 shares of the medical equipment provider’s stock valued at $94,433,000 after acquiring an additional 310,273 shares during the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
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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