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SAN DIEGO—Brett Sandercock, the Chief Financial Officer of ResMed Inc . (NYSE:RMD), recently executed a significant stock transaction. According to a filing with the Securities and Exchange Commission, Sandercock sold 1,000 shares of ResMed common stock on March 10. The shares were sold at an average price of $230.36 each, amounting to a total transaction value of $230,360. The transaction comes as ResMed, currently valued at $33.1 billion, maintains a "GREAT" financial health rating according to InvestingPro analysis.
Following this sale, Sandercock retains ownership of 90,864 shares in the company. The transaction was conducted under a prearranged Rule 10b5-1 trading plan, which Sandercock adopted on February 6, 2024. This plan allows company insiders to sell a predetermined number of shares at a predetermined time, providing a method to gradually diversify their investment portfolio while avoiding potential accusations of insider trading. Notably, the company has achieved a perfect Piotroski Score of 9, indicating strong financial fundamentals.
ResMed, a global leader in the development and manufacturing of medical equipment for sleep disorders, continues to be a significant player in the healthcare sector. The company has maintained dividend payments for 14 consecutive years, with a current dividend yield of 0.94%. The company’s shares are traded on the New York Stock Exchange under the ticker symbol RMD. For comprehensive analysis and additional insights, investors can access detailed Pro Research Reports on InvestingPro, which offers exclusive financial metrics and 12 more ProTips about RMD’s performance and outlook.
In other recent news, ResMed reported its Q2 FY2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $2.43 against a forecast of $2.32. The company also exceeded revenue projections, posting $1.28 billion compared to the anticipated $1.27 billion. Despite this strong performance, ResMed’s stock fell 6.6% in after-hours trading. Analysts from Citi upgraded ResMed shares from Neutral to Buy, citing the company’s strong expected EPS growth and robust free cash flow generation. Citi also adjusted the price target to AUD44.00, highlighting the forecast of ResMed becoming debt-free by the end of fiscal year 2025. In contrast, Stifel analysts lowered their price target for ResMed to $240 from $250, maintaining a Hold rating due to concerns over the CPAP market and the growing use of GLP-1 drugs. Additionally, ResMed was added to Goldman Sachs’ APAC Director’s Cut Conviction List, reflecting a positive outlook for the company’s growth potential. ResMed’s strategic focus on innovation and digital health solutions continues to drive its strong market presence.
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