Geode Capital Management LLC boosted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,944,084 shares of the medical equipment provider's stock after acquiring an additional 85,270 shares during the quarter. Geode Capital Management LLC owned 2.69% of ResMed worth $899,860,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. First Horizon Advisors Inc. boosted its stake in ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock valued at $136,000 after purchasing an additional 439 shares during the period. Peak Financial Advisors LLC bought a new stake in shares of ResMed during the 4th quarter worth $2,972,000. Principal Financial Group Inc. boosted its stake in ResMed by 2.9% in the third quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider's stock valued at $45,596,000 after buying an additional 5,284 shares in the last quarter. Spire Wealth Management grew its position in ResMed by 11.3% in the fourth quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock valued at $2,470,000 after acquiring an additional 1,100 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock worth $14,105,000 after acquiring an additional 1,629 shares in the last quarter. Institutional investors own 54.98% of the company's stock.
Insider Buying and Selling
In other news, insider Kaushik Ghoshal sold 9,745 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the transaction, the director now owns 73,218 shares in the company, valued at approximately $16,088,923.32. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,004 shares of company stock worth $9,618,128. Insiders own 0.71% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on RMD shares. KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a report on Wednesday, March 5th. StockNews.com lowered shares of ResMed from a "buy" rating to a "hold" rating in a research note on Wednesday, April 2nd. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. One equities 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.73.
Check Out Our Latest Analysis on ResMed
ResMed Stock Up 3.3 %
NYSE RMD traded up $6.86 during trading hours on Monday, hitting $212.03. The company's stock had a trading volume of 871,932 shares, compared to its average volume of 1,004,566. ResMed Inc. has a 52 week low of $172.19 and a 52 week high of $263.05. The company's 50-day simple moving average is $230.74 and its two-hundred day simple moving average is $236.94. The company has a market capitalization of $31.14 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 1.53 and a beta of 0.75. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. Research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 1.00%. ResMed's payout ratio is currently 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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