Bank of Montreal Can grew its stake in ResMed Inc. (NYSE:RMD - Free Report) by 62.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 392,459 shares of the medical equipment provider's stock after buying an additional 151,166 shares during the period. Bank of Montreal Can owned 0.27% of ResMed worth $89,751,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cerity Partners LLC boosted its stake in ResMed by 21.2% in the fourth quarter. Cerity Partners LLC now owns 16,589 shares of the medical equipment provider's stock valued at $3,886,000 after acquiring an additional 2,903 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of ResMed by 47.3% in the 4th quarter. Federated Hermes Inc. now owns 1,137 shares of the medical equipment provider's stock valued at $260,000 after purchasing an additional 365 shares during the period. Nutshell Asset Management Ltd acquired a new stake in shares of ResMed in the 4th quarter valued at about $2,229,000. Russell Investments Group Ltd. grew its stake in ResMed by 9.4% during the 4th quarter. Russell Investments Group Ltd. now owns 71,468 shares of the medical equipment provider's stock worth $16,349,000 after buying an additional 6,137 shares during the last quarter. Finally, Wedbush Securities Inc. increased its position in ResMed by 16.1% during the fourth quarter. Wedbush Securities Inc. now owns 3,327 shares of the medical equipment provider's stock worth $761,000 after buying an additional 461 shares during the period. 54.98% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
RMD has been the subject of several research analyst reports. Stifel Nicolaus decreased their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. The Goldman Sachs Group initiated coverage on shares of ResMed in a research note on Thursday, January 16th. They set a "buy" rating for the company. Citigroup raised shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Morgan Stanley started coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.
Check Out Our Latest Analysis on RMD
Insider Buying and Selling
In other news, insider Kaushik Ghoshal sold 9,745 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company's stock, valued at $2,327,289.75. The trade was a 50.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 49,013 shares of company stock valued at $11,298,816. Corporate insiders own 0.71% of the company's stock.
ResMed Stock Performance
Shares of RMD stock traded up $0.63 during trading hours on Monday, reaching $214.62. 293,745 shares of the company's stock were exchanged, compared to its average volume of 1,021,519. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company's 50 day moving average is $225.64 and its two-hundred day moving average is $235.39. The company has a market cap of $31.52 billion, a P/E ratio of 25.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. ResMed Inc. has a 1 year low of $172.19 and a 1 year high of $263.05.
ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.
About ResMed
(
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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