ResMed chief product officer Justin Leong sells $1.5 million in stock – Investing.com
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A recent SEC filing reveals that Justin Leong, Chief Product Officer at ResMed Inc. (NYSE:RMD), sold 6,160 shares of the company’s common stock on November 22. The shares were sold at an average price of $243.087, totaling around $1,497,415. Despite this sale, Leong still holds 21,718 shares in ResMed. The transaction involved multiple trades at prices ranging from $243.00 to $243.315 per share.
ResMed, a San Diego-based company, specializes in medical equipment, with a focus on products for sleep apnea and other respiratory disorders.
In more recent news, ResMed Inc. reported a significant increase in revenue and operating profit during its Q1 Fiscal Year 2025 earnings call. The company saw an 11% revenue growth and a 27% rise in operating profit, attributed to the strong demand for its sleep and respiratory health devices, especially the AirSense 10 and 11 platforms. They also announced the upcoming launch of the AirTouch N30i mask, aimed at improving patient adherence through enhanced comfort.
In governance updates, ResMed shareholders elected eleven directors to the board, approved KPMG LLP as the independent auditor for the fiscal year ending June 2025, and signed off on executive compensation. These decisions were based on information provided in a recent SEC filing by ResMed.
Looking ahead, ResMed aims to expand into digital health and related markets, with a goal to impact over 500 million people with its health tech solutions by 2030. Despite challenges like increased inventory levels and supply chain issues, ResMed’s commitment to research and development, strategic acquisitions, and capital management is expected to drive continued growth.
InvestingPro Insights highlight ResMed’s strong fundamentals, with a market capitalization of $35.77 billion and a revenue increase of 9.88% over the last year, totaling $4.81 billion. The company maintains a robust gross profit margin of 58.33%, showing efficient cost management and pricing power in its niche market.
Additionally, ResMed has a track record of consistent dividend performance, having raised its dividend for 13 straight years, supported by strong cash flows to cover interest payments, indicating financial stability. Although ResMed trades at a relatively high P/E ratio of 32.5, its profitability and growth potential remain solid, with a return on assets of 15.94%.
For investors seeking more in-depth analysis, InvestingPro offers 15 additional insights on ResMed, providing a deeper look into the company’s financial health and market standing.
