Birch Capital Management LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 21.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,543 shares of the medical equipment provider's stock after buying an additional 6,268 shares during the period. ResMed accounts for about 4.1% of Birch Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Birch Capital Management LLC's holdings in ResMed were worth $8,128,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of ResMed by 1.9% in the third 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. Geode Capital Management LLC lifted its position in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ResMed by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 924,047 shares of the medical equipment provider's stock worth $225,578,000 after acquiring an additional 13,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of ResMed by 0.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 742,411 shares of the medical equipment provider's stock worth $181,237,000 after acquiring an additional 2,406 shares during the last quarter. Finally, Greenvale Capital LLP raised its stake in ResMed by 61.1% in the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock valued at $138,780,000 after acquiring an additional 275,000 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.
ResMed Price Performance
Shares of RMD traded up $1.22 during trading hours on Tuesday, reaching $236.31. The stock had a trading volume of 674,633 shares, compared to its average volume of 666,508. The stock has a market capitalization of $34.69 billion, a PE ratio of 31.30, a PEG ratio of 1.73 and a beta of 0.70. ResMed Inc. has a 12 month low of $166.90 and a 12 month high of $260.49. 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's 50-day moving average is $240.48 and its two-hundred day moving average is $230.23.
ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. Research analysts expect that ResMed Inc. will post 9.34 EPS for the current year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.90%. ResMed's payout ratio is 28.08%.
Insider Buying and Selling
In other news, insider Kaushik Ghoshal sold 4,260 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now directly owns 21,788 shares of the company's stock, valued at $5,196,002.24. The trade was a 16.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the sale, the director now directly owns 83,204 shares of the company's stock, valued at $20,696,162.96. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,359 shares of company stock valued at $3,735,309 in the last three months. Insiders own 0.71% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on RMD. StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Tuesday, October 15th. Bank of America increased their price target on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They set a "hold" rating and a $250.00 price target for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a report on Friday, October 25th. Finally, Wolfe Research reiterated an "underperform" rating and set a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $227.91.
Get Our Latest Analysis on RMD
ResMed Company Profile
(
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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