The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Resmed Inc shares valued at $500,000 were purchased by Farrell Michael J. on Nov 27 ’24. At $250.00 per share, Farrell Michael J. acquired 2,000 shares.
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Also, Farrell Michael J. sold 2,000 shares, netting a total of over 499,330 in proceeds. Following the sale of shares at $249.66 each, the insider now holds 0 shares.
Before that, Leong Justin had sold 6,160 shares from its account. In a trade valued at $1,497,416, the Chief Product Officer traded Resmed Inc shares for $243.09 each. Upon closing the transaction, the insider’s holdings decreased to 6,160 shares, worth approximately $5.41 million.
As published in their initiating research note from Robert W. Baird on September 24, 2024, Resmed Inc [RMD] has been an Outperform and the price target has been revised to $280. Analysts at Wolfe Research downgraded the stock from ‘”a Peer perform”‘ to ‘”an Underperform”‘ outlook in a report released in mid September. As of September 04, 2024, Needham has decreased its “Buy” rating to a “Hold” for RMD. Earlier on June 25, 2024, Oppenheimer downgraded its rating. Their new recommendation was “a Perform” for RMD stock which previously was a “an Outperform”.
Analyzing RMD Stock Performance
During the last five days, there has been a surge of approximately 3.22%. Over the course of the year, Resmed Inc shares have jumped approximately 44.94%. Shares of the company reached a 52-week high of $260.49 on 10/25/24 and a 52-week low of $164.12 on 01/04/24. A 50-day SMA is recorded $242.03, while a 200-day SMA reached $215.11. Nevertheless, trading volume fell to 0.65 million shares from 1.71 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 247.71, which, if violated, would cause prices to drop to 246.08. In the upper region, resistance lies at 251.16. The next price resistance is at 252.98. RSI (Relative Strength Index) is 58.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.40, which suggests the price will increase in the coming days. Percent R is at 24.30%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
