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Michael J. Rider, the Global General Counsel of ResMed Inc . (NYSE:RMD), recently sold shares of the company valued at approximately $14,263. The transaction, which involved 64 shares at a price of $222.86 each, was conducted under a pre-established Rule 10b5-1 trading plan adopted on May 11, 2024. The sale occurred as ResMed maintains strong financial health, evidenced by its perfect Piotroski Score of 9, according to InvestingPro data. Following this sale, Rider retains ownership of 8,846 shares in the company. ResMed, based in San Diego, is a prominent player in the medical instruments and apparatus sector, with a market capitalization of $31.3 billion. The company demonstrates solid financial performance with a 59% gross profit margin and maintains a conservative debt profile with a debt-to-equity ratio of just 0.16. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with 11 more exclusive insights available to subscribers through the comprehensive Pro Research Report.
In other recent news, ResMed has reported its Q2 FY2025 earnings, surpassing analyst expectations with an earnings per share (EPS) of $2.43, compared to a forecast of $2.32. The company also exceeded revenue projections, posting $1.28 billion against the anticipated $1.27 billion. Despite these strong financial results, ResMed’s stock saw a decline in after-hours trading. ResMed was also added to Goldman Sachs’ APAC Director’s Cut Conviction List, indicating a positive outlook from the investment bank. Citi analysts upgraded ResMed’s stock rating to Buy, increasing the price target to AUD44.00, highlighting the company’s expected strong earnings per share growth and robust free cash flow. Meanwhile, Stifel analysts adjusted 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. The inclusion of ResMed in Goldman’s Conviction List and the upgrades by Citi are seen as positive indicators for the company’s growth potential.
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