Connor Clark & Lunn Investment Management Ltd. raised its position in ResMed Inc. (NYSE:RMD - Free Report) by 435.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,594 shares of the medical equipment provider's stock after buying an additional 19,184 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in ResMed were worth $5,760,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of ResMed by 24.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,342 shares of the medical equipment provider's stock worth $1,454,000 after buying an additional 1,436 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of ResMed by 14.7% during the 1st quarter. Bessemer Group Inc. now owns 1,725 shares of the medical equipment provider's stock valued at $342,000 after buying an additional 221 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in ResMed by 57.4% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,629 shares of the medical equipment provider's stock valued at $521,000 after acquiring an additional 959 shares during the period. Pitcairn Co. purchased a new stake in ResMed during the 1st quarter worth about $219,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of ResMed during the 1st quarter valued at $6,782,000. 54.98% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at approximately $115,290,296.22. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 5,000 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,174 shares of company stock valued at $14,882,278. 0.71% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of brokerages recently commented on RMD. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, October 25th. KeyCorp increased their price target on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Robert W. Baird lifted their price objective on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a report on Friday, October 25th. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Wolfe Research reiterated an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.70.
Check Out Our Latest Stock Analysis on RMD
ResMed Price Performance
Shares of ResMed stock traded up $0.18 during mid-day trading on Friday, reaching $243.78. 551,442 shares of the stock traded hands, compared to its average volume of 1,116,007. ResMed Inc. has a fifty-two week low of $151.95 and a fifty-two week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average of $241.86 and a 200 day moving average of $224.42. The stock has a market capitalization of $35.79 billion, a PE ratio of 32.29, a PEG ratio of 1.77 and a beta of 0.69.
ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. On average, analysts predict that ResMed Inc. will post 9.28 EPS for the current year.
ResMed Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's dividend payout ratio is currently 28.08%.
ResMed Company Profile
(
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.
Featured Articles
Before you consider ResMed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ResMed wasn't on the list.
While ResMed currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
