Occidental Asset Management LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,453 shares of the medical equipment provider's stock, valued at approximately $332,000.
A number of other large investors have also recently made changes to their positions in RMD. American Century Companies Inc. raised its position in ResMed by 17.7% during the 2nd quarter. American Century Companies Inc. now owns 30,874 shares of the medical equipment provider's stock worth $5,910,000 after buying an additional 4,639 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ResMed by 19.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider's stock worth $126,670,000 after purchasing an additional 107,279 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of ResMed by 45.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,035 shares of the medical equipment provider's stock valued at $581,000 after buying an additional 948 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of ResMed by 11.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,588 shares of the medical equipment provider's stock valued at $3,895,000 after buying an additional 2,175 shares in the last quarter. Finally, Ieq Capital LLC grew its holdings in ResMed by 4.8% during the second quarter. Ieq Capital LLC now owns 12,266 shares of the medical equipment provider's stock worth $2,348,000 after acquiring an additional 563 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have commented on RMD. Stifel Nicolaus started coverage on ResMed in a report on Friday, December 13th. They issued a "hold" rating and a $250.00 target price for the company. Bank of America upped their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Piper Sandler initiated coverage on ResMed in a report on Friday, January 10th. They issued a "neutral" rating and a $252.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their target price on ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $233.09.
Get Our Latest Report on ResMed
ResMed Trading Up 1.2 %
NYSE:RMD traded up $2.76 on Friday, reaching $239.89. The stock had a trading volume of 776,857 shares, compared to its average volume of 670,396. ResMed Inc. has a 12-month low of $170.39 and a 12-month high of $260.49. The company has a market cap of $35.22 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 1.69 and a beta of 0.70. The firm's fifty day moving average is $238.51 and its two-hundred day moving average is $232.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 earnings per share. Equities analysts expect that ResMed Inc. will post 9.36 EPS for the current fiscal year.
ResMed Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Thursday, November 7th. ResMed's dividend payout ratio is currently 28.08%.
Insider Activity at ResMed
In other news, insider Justin Leong sold 6,160 shares of the company's stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the sale, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares in the company, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by insiders.
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.
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 "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
