Board of the Pension Protection Fund acquired a new position in shares of ResMed Inc. (NYSE:RMD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,000 shares of the medical equipment provider's stock, valued at approximately $915,000.
Other large investors have also made changes to their positions in the company. State Street Corp raised its stake in shares of ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Geode Capital Management LLC increased its stake in ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after acquiring an additional 380,383 shares during the period. Charles Schwab Investment Management Inc. raised its position in ResMed by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock worth $225,578,000 after purchasing an additional 13,985 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in ResMed by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after purchasing an additional 2,406 shares during the period. Finally, Greenvale Capital LLP grew its stake in shares of ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after purchasing an additional 275,000 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on RMD shares. Robert W. Baird raised their target price on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Royal Bank of Canada boosted their target price on shares of ResMed from $224.00 to $232.00 and gave the company a "sector perform" rating in a research note on Friday, October 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, October 25th. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. Finally, Wolfe Research reaffirmed an "underperform" rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of "Hold" and an average target price of $233.09.
Check Out Our Latest Analysis on RMD
ResMed Trading Up 1.8 %
Shares of RMD traded up $4.18 during trading hours on Wednesday, hitting $233.01. 1,147,392 shares of the stock traded hands, compared to its average volume of 778,755. The business has a fifty day moving average of $239.24 and a 200-day moving average of $232.06. The firm has a market capitalization of $34.20 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 1.73 and a beta of 0.70. ResMed Inc. has a 1-year low of $168.29 and a 1-year high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. Analysts expect that ResMed Inc. will post 9.34 EPS for the current year.
ResMed Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed's dividend payout ratio (DPR) is currently 28.08%.
Insider Transactions at ResMed
In related news, insider Justin Leong sold 6,160 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares in the company, valued at approximately $5,279,428.62. The trade was a 22.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now owns 81,218 shares in the company, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock worth $2,719,385 in the last three months. Insiders own 0.71% of the company's stock.
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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