Neuberger Berman Group LLC grew its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 39.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,630 shares of the medical equipment provider's stock after acquiring an additional 7,586 shares during the quarter. Neuberger Berman Group LLC's holdings in ResMed were worth $6,090,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Vanguard Group Inc. boosted its stake in ResMed by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after buying an additional 160,590 shares in the last quarter. Geode Capital Management LLC lifted its position in ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock worth $899,860,000 after acquiring an additional 85,270 shares during the last quarter. Invesco Ltd. increased its holdings in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after purchasing an additional 566,046 shares during the period. Charles Schwab Investment Management Inc. lifted its position in ResMed by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after purchasing an additional 32,973 shares during the period. Finally, Los Angeles Capital Management LLC lifted its stake in ResMed by 60.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 668,908 shares of the medical equipment provider's stock worth $152,973,000 after purchasing an additional 250,746 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at ResMed
In other news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. This represents a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business'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 transaction, the director now directly owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,013 shares of company stock worth $11,298,816 over the last 90 days. Corporate insiders own 0.71% of the company's stock.
ResMed Stock Performance
Shares of NYSE:RMD traded down $0.55 during midday trading on Tuesday, reaching $213.98. The company had a trading volume of 1,769,512 shares, compared to its average volume of 1,031,741. ResMed Inc. has a 52-week low of $172.19 and a 52-week high of $263.05. The company's 50 day moving average price is $225.09 and its 200 day moving average price is $235.22. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $31.43 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.53 and a beta of 0.75.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, sell-side 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. Shareholders of record on Thursday, February 13th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a yield of 0.99%. ResMed's dividend payout ratio is presently 25.03%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on RMD shares. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. boosted their target price on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. StockNews.com lowered ResMed from a "buy" rating to a "hold" rating in a report on Wednesday, April 2nd. Stifel Nicolaus lowered their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, March 5th. Finally, Morgan Stanley started coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price objective for the company. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $249.73.
Check Out Our Latest Research Report on RMD
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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