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In a recent transaction, Brett Sandercock, the Chief Financial Officer of ResMed Inc . (NYSE:RMD), a $30.8 billion market cap medical device company with a perfect Piotroski Score of 9 according to InvestingPro, sold shares of the company, according to a filing with the Securities and Exchange Commission. On April 8, Sandercock sold 1,000 shares of ResMed common stock at a price of $215.58 per share, totaling $215,580.
Following this transaction, Sandercock retains ownership of 89,864 shares in the company. The sale was conducted under a Rule 10b5-1 plan, which had been adopted on February 6, 2024. Such plans allow company insiders to set up a predetermined schedule for selling stocks, helping to avoid concerns over insider trading.
ResMed, known for its medical devices and cloud-connected solutions for respiratory care, has its headquarters in San Diego, California. The company has maintained dividend payments for 14 consecutive years, with a 10.4% dividend growth in the last twelve months. According to InvestingPro's Fair Value analysis, the stock currently appears undervalued.
In other recent news, ResMed reported its Q2 FY2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $2.43, compared to the forecast of $2.32. The company also exceeded revenue projections, posting $1.28 billion against the anticipated $1.27 billion. Despite these strong results, ResMed's stock experienced a decline in after-hours trading. Additionally, ResMed was added to Goldman Sachs' APAC Director's Cut Conviction List, indicating a positive outlook for the company's growth potential. Analysts at Citi have upgraded ResMed's stock rating from Neutral to Buy, increasing the price target to AUD44.00, citing strong expected earnings growth and robust free cash flow. Conversely, Stifel analysts have reduced their price target for ResMed to $240, maintaining a Hold rating due to concerns about the CPAP market amid the growing use of GLP-1 drugs. These developments highlight a mix of optimism and caution among analysts regarding ResMed's future performance.
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