Skandinaviska Enskilda Banken AB publ lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,403 shares of the medical equipment provider's stock after acquiring an additional 69,782 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.15% of ResMed worth $51,500,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC boosted its stake in ResMed by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after purchasing an additional 380,383 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of 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 valued at $152,973,000 after buying an additional 250,746 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in ResMed by 726.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider's stock valued at $69,281,000 after buying an additional 249,454 shares during the period. Proficio Capital Partners LLC acquired a new stake in ResMed during the 4th quarter worth about $50,364,000. Finally, Nordea Investment Management AB grew its stake in ResMed by 92.7% during 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 acquiring an additional 215,561 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently commented on RMD. Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They issued a "buy" rating on the stock. Needham & Company LLC restated a "hold" rating on shares of ResMed in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average price target of $243.82.
View Our Latest Stock Report on ResMed
ResMed Stock Up 0.1 %
NYSE RMD traded up $0.30 during trading on Monday, hitting $224.46. The stock had a trading volume of 805,633 shares, compared to its average volume of 961,506. The company has a market capitalization of $32.97 billion, a PE ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed Inc. has a 12 month low of $172.19 and a 12 month high of $263.05. The company's 50-day moving average price is $236.30 and its two-hundred day moving average price is $239.80. 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 data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio is presently 25.03%.
Insider Activity at ResMed
In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares of the company's stock, valued at $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,940 shares of company stock worth $9,164,385. Insiders own 0.71% of the company's stock.
ResMed Company 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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