Capital Investment Services of America Inc. lessened its position in ResMed Inc. (NYSE:RMD - Free Report) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,388 shares of the medical equipment provider's stock after selling 7,840 shares during the quarter. ResMed makes up about 2.8% of Capital Investment Services of America Inc.'s investment portfolio, making the stock its 13th largest holding. Capital Investment Services of America Inc. owned about 0.08% of ResMed worth $29,389,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of ResMed by 22.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,104 shares of the medical equipment provider's stock worth $1,011,000 after acquiring an additional 923 shares during the last quarter. Norden Group LLC grew its holdings in ResMed by 85.0% during the first quarter. Norden Group LLC now owns 2,590 shares of the medical equipment provider's stock valued at $513,000 after purchasing an additional 1,190 shares during the period. Diversify Advisory Services LLC bought a new stake in ResMed during the 1st quarter worth approximately $360,000. BNP Paribas Financial Markets raised its position in shares of ResMed by 51.1% during the 1st quarter. BNP Paribas Financial Markets now owns 109,881 shares of the medical equipment provider's stock valued at $21,760,000 after purchasing an additional 37,175 shares during the period. Finally, Janney Montgomery Scott LLC boosted its stake in shares of ResMed by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider's stock worth $16,102,000 after acquiring an additional 4,075 shares during the period. Hedge funds and other institutional investors own 54.98% of the company's stock.
Analyst Ratings Changes
RMD has been the subject of a number of research reports. Baird R W upgraded shares of ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Wolfe Research reaffirmed an "underperform" rating and issued a $180.00 target price on shares of ResMed in a report on Wednesday, September 18th. KeyCorp raised their price target on ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, October 25th. Finally, StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $225.70.
Get Our Latest Stock Analysis on ResMed
Insider Buying and Selling
In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business's stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total transaction of $212,160.00. Following the sale, the chief financial officer now owns 89,056 shares in the company, valued at approximately $18,894,120.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now owns 89,056 shares in the company, valued at $18,894,120.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the business's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the transaction, the insider now owns 21,788 shares of the company's stock, valued at $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 75,874 shares of company stock worth $17,731,782 in the last 90 days. Insiders own 0.71% of the company's stock.
ResMed Stock Down 0.3 %
NYSE:RMD traded down $0.67 during mid-day trading on Monday, hitting $243.61. 1,229,159 shares of the company's stock traded hands, compared to its average volume of 1,053,652. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a market capitalization of $35.76 billion, a P/E ratio of 32.45, a P/E/G ratio of 1.78 and a beta of 0.69. The company has a fifty day moving average of $242.63 and a 200 day moving average of $220.29. ResMed Inc. has a twelve month low of $140.81 and a twelve month high of $260.49.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period last year, the firm posted $1.64 EPS. ResMed's revenue was up 11.1% on a year-over-year basis. On average, analysts forecast that ResMed Inc. will post 9.22 EPS for the current year.
ResMed Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, November 7th. ResMed's payout ratio is 28.08%.
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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