Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Resmed Inc. shares valued at $78,584 were sold by De Witte Jan on May 15 ’24. At $218.29 per share, De Witte Jan sold 360 shares. The insider’s holdings dropped to 7,519 shares worth approximately $1.59 million following the completion of this transaction.
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Also, Sandercock Brett sold 13,000 shares, netting a total of over 2,747,810 in proceeds. Following the sale of shares at $211.37 each, the insider now holds 92,056 shares.
Before that, Farrell Michael J. had sold 14,683 shares from its account. In a trade valued at $3,178,815, the Chief Executive Officer traded Resmed Inc. shares for $216.50 each. Upon closing the transaction, the insider’s holdings decreased to 14,683 shares, worth approximately $93.25 million.
Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in late October. As of October 12, 2023, RBC Capital Mkts has decreased its “an Outperform” rating to a “Sector perform” for RMD. Earlier on October 09, 2023, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for RMD stock which previously was a “a Neutral”.
Analyzing RMD Stock Performance
During the last five days, there has been a drop of approximately -3.81%. Over the course of the year, Resmed Inc. shares have jumped approximately 23.00%. Shares of the company reached a 52-week high of $222.96 on 05/16/24 and a 52-week low of $164.12 on 01/04/24. A 50-day SMA is recorded $199.56, while a 200-day SMA reached $172.54. Nevertheless, trading volume fell to 1.04 million shares from 0.45 million shares the previous day.
Support And Resistance Levels for Resmed Inc. (RMD)
According to the 24-hour chart, there is a support level at 208.51, which, if violated, would cause prices to drop to 205.45. In the upper region, resistance lies at 216.37. The next price resistance is at 221.17. RSI (Relative Strength Index) is 52.48 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 89.47%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
