Invesco Ltd. lifted its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 32.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,325,009 shares of the medical equipment provider's stock after buying an additional 566,046 shares during the period. Invesco Ltd. owned about 1.58% of ResMed worth $531,706,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC increased its holdings in shares of ResMed by 1.9% during the 3rd quarter. Janus Henderson Group PLC now owns 16,160 shares of the medical equipment provider's stock worth $3,943,000 after acquiring an additional 296 shares during the last quarter. Stifel Financial Corp grew its position in ResMed by 8.7% during the third quarter. Stifel Financial Corp now owns 57,359 shares of the medical equipment provider's stock worth $14,004,000 after buying an additional 4,611 shares in the last quarter. Weiss Asset Management LP acquired a new position in ResMed in the third quarter valued at about $475,000. Wellington Management Group LLP raised its position in shares of ResMed by 35.7% in the 3rd quarter. Wellington Management Group LLP now owns 59,926 shares of the medical equipment provider's stock valued at $14,629,000 after buying an additional 15,772 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its position in shares of ResMed by 15.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 2,321 shares of the medical equipment provider's stock worth $567,000 after buying an additional 315 shares during the last quarter. 54.98% of the stock is owned by institutional investors.
ResMed Stock Up 0.3 %
ResMed stock traded up $0.63 during trading hours on Monday, hitting $214.62. The stock had a trading volume of 293,745 shares, compared to its average volume of 1,021,519. The stock has a market capitalization 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 12-month low of $172.19 and a 12-month high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average price is $225.64 and its 200-day moving average price is $235.39.
ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.99%. The ex-dividend date was Thursday, February 13th. ResMed's payout ratio is 25.03%.
Insider Activity
In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now owns 77,218 shares of the company's stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the sale, the chief executive officer now owns 455,472 shares of the company's stock, valued at $95,580,799.20. The trade was a 1.73 % 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. 0.71% of the stock is currently owned by insiders.
Analysts Set New Price Targets
RMD has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. KeyCorp raised their price objective on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus decreased their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, March 5th. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Finally, StockNews.com cut ResMed from a "buy" rating to a "hold" rating in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and a consensus price target of $249.73.
Get Our Latest Analysis on ResMed
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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