Verition Fund Management LLC increased its position in ResMed Inc. (NYSE:RMD - Free Report) by 102.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,054 shares of the medical equipment provider's stock after buying an additional 6,100 shares during the quarter. Verition Fund Management LLC's holdings in ResMed were worth $2,943,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of ResMed during the second quarter worth $77,285,000. Greenvale Capital LLP raised its position in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock worth $138,780,000 after purchasing an additional 275,000 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock valued at $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of ResMed in the 2nd quarter valued at $42,036,000. Institutional investors own 54.98% of the company's stock.
ResMed Stock Down 2.7 %
RMD traded down $6.54 during midday trading on Thursday, hitting $239.30. 332,834 shares of the company's stock traded hands, compared to its average volume of 1,028,590. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The company has a market cap of $35.13 billion, a PE ratio of 32.56, a price-to-earnings-growth ratio of 1.80 and a beta of 0.68. The stock's fifty day simple moving average is $242.31 and its 200-day simple moving average is $226.21. ResMed Inc. has a one year low of $162.05 and a one year high of $260.49.
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, beating analysts' consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm earned $1.64 EPS. ResMed's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current fiscal year.
ResMed Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be given a $0.53 dividend. The ex-dividend date is Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. ResMed's dividend payout ratio is 28.08%.
Insider Transactions at ResMed
In other news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares of the company's stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $246.42, for a total transaction of $246,420.00. Following the completion of the sale, the chief financial officer now directly owns 96,812 shares in the company, valued at $23,856,413.04. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,408 shares of company stock worth $15,918,332. Insiders own 0.71% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on RMD shares. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, October 25th. KeyCorp boosted their price target on shares of ResMed from $251.00 to $266.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Robert W. Baird raised their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research note on Friday, October 25th. Bank of America increased their target price on ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.70.
Check Out Our Latest Research Report on ResMed
ResMed 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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