Not oversold. The company shares have been in over-valued territory for a few months. See below for at all the share selling activity by insiders (officers and directors) over the past 2 months. If you ask them to explain the rationale for the selling, they will tell you the selling activity is automatic. Who knows?
Take some time to listen to the company's post earnings conference call or read the transcripts. Pay attention to how CEO/CFO responds to questions ... at times he is looking for words.... at times he is dodging the questions....
Call recording
https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Finvestors.resmed.com%2Finvestor-relations%2Fevents-and-presentations%2Fdefault.aspx&eventid=1900085&sessionid=1&key=6F800BB7DCA2E7DDBA098B1264B149FA®Tag=&sourcepage=register
Call transcripts
https://seekingalpha.com/article/4235524-resmed-inc-rmd-ceo-michael-farrell-q2-2019-results-earnings-call-transcript
If you strip out revenue from the HealthcareFirst and MatrixCare acquisitions, the revenue miss would have grown by about $60Million to $75Million. That's the primary reason behind the rerating of the p/e.
No company keeps growing forever. A string of acqusitions in a short period of time is not always good omen. They spent $2BIllions in acquisitions in the past 3 years... That's a lot of money for a company averaging $2.5Billion in revenues per year.
Do your own research. Good luck.
Not oversold. The company shares have been in over-valued...
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Last
$32.91 |
Change
-0.050(0.15%) |
Mkt cap ! $20.43B | |||
| Open | High | Low | Value | Volume |
| $33.08 | $33.27 | $32.84 | $53.41M | 1.619M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2687 | $32.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $33.00 | 1249 | 35 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$32.97 |
Change
-0.050 ( 0.15 %) |
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| Open | High | Low | Volume | ||
| $33.09 | $33.25 | $32.85 | 298626 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| RMD (ASX) Chart |