AustralianSuper Pty Ltd lifted its stake in ResMed Inc. (NYSE:RMD - Free Report) by 3,266.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 103,923 shares of the medical equipment provider's stock after buying an additional 100,836 shares during the period. AustralianSuper Pty Ltd owned about 0.07% of ResMed worth $23,766,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in shares of ResMed by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after purchasing an additional 380,383 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in ResMed by 726.3% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock worth $69,281,000 after purchasing an additional 249,454 shares during the period. Nordea Investment Management AB raised its position in shares of ResMed by 92.7% during the fourth quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock worth $103,214,000 after purchasing an additional 215,561 shares during the period. State Street Corp raised its holdings in shares of ResMed by 1.9% during the third quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock worth $1,528,590,000 after acquiring an additional 116,918 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of ResMed by 738.4% in the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider's stock valued at $25,617,000 after purchasing an additional 92,422 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on RMD. Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the company an "outperform" rating in a report on Friday, October 25th. The Goldman Sachs Group started coverage on ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Royal Bank of Canada lifted their price target on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a report on Friday, October 25th. JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average target price of $244.73.
View Our Latest Research Report on RMD
ResMed Stock Performance
Shares of NYSE RMD traded up $3.90 during midday trading on Wednesday, hitting $234.48. 941,924 shares of the company's stock traded hands, compared to its average volume of 978,094. The firm has a fifty day moving average of $237.99 and a 200 day moving average of $239.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock has a market capitalization of $34.44 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.54 and a beta of 0.70. ResMed Inc. has a 1 year low of $170.56 and a 1 year high of $263.05.
ResMed (NYSE:RMD - Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts forecast that ResMed Inc. will post 9.44 earnings per share for the current year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed's payout ratio is currently 25.03%.
Insider Buying and Selling
In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Justin Leong sold 6,160 shares of the company's stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,307 shares of company stock worth $4,403,180 over the last three months. 0.71% of the stock is owned by insiders.
ResMed Profile
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Free Report)
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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