Pittenger & Anderson Inc. lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 62,537 shares of the medical equipment provider's stock after buying an additional 4,213 shares during the quarter. Pittenger & Anderson Inc.'s holdings in ResMed were worth $14,302,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Geode Capital Management LLC lifted its position in ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after acquiring an additional 380,383 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its holdings in ResMed by 726.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock worth $69,281,000 after purchasing an additional 249,454 shares during the last quarter. Nordea Investment Management AB boosted its stake in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider's stock valued at $103,214,000 after purchasing an additional 215,561 shares during the period. State Street Corp grew its holdings in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider's stock valued at $1,528,590,000 after buying an additional 116,918 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in ResMed by 3,266.5% during the 4th quarter. AustralianSuper Pty Ltd now owns 103,923 shares of the medical equipment provider's stock worth $23,766,000 after buying an additional 100,836 shares during the period. Institutional investors own 54.98% of the company's stock.
ResMed Trading Up 1.4 %
Shares of NYSE:RMD traded up $3.25 during midday trading on Wednesday, hitting $233.83. 521,608 shares of the stock were exchanged, compared to its average volume of 963,913. The business's 50-day moving average price is $237.99 and its 200 day moving average price is $239.04. The stock has a market capitalization of $34.34 billion, a price-to-earnings ratio of 27.61, a P/E/G ratio of 1.54 and a beta of 0.70. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly 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%. Analysts predict that ResMed Inc. will post 9.44 earnings per share for the current year.
ResMed Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed's payout ratio is presently 25.03%.
Wall Street Analyst Weigh In
RMD has been the topic of several research reports. UBS Group upgraded shares of ResMed from a "hold" rating to a "strong-buy" rating in a research note on Friday, January 31st. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research report on Friday, January 31st. Piper Sandler increased their price target on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a research report on Friday, January 31st. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Finally, Stifel Nicolaus started coverage on shares of ResMed in a report on Friday, December 13th. They set a "hold" rating and a $250.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $244.73.
Read Our Latest Research Report on RMD
Insider Buying and Selling at ResMed
In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company's stock, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,307 shares of company stock worth $4,403,180. Insiders own 0.71% of the company's stock.
About ResMed
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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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