Virtus ETF Advisers LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,661 shares of the medical equipment provider's stock, valued at approximately $1,066,000.
A number of other hedge funds have also modified their holdings of RMD. SkyView Investment Advisors LLC raised its position in shares of ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider's stock valued at $637,000 after buying an additional 51 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of ResMed in the third quarter valued at about $541,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of ResMed in the third quarter valued at about $193,000. Tidal Investments LLC grew its holdings in shares of ResMed by 738.4% in the third quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider's stock valued at $25,617,000 after purchasing an additional 92,422 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of ResMed by 56.5% in the third quarter. Franklin Resources Inc. now owns 174,113 shares of the medical equipment provider's stock valued at $41,909,000 after purchasing an additional 62,882 shares during the period. 54.98% of the stock is currently owned by institutional investors and hedge funds.
ResMed Stock Down 0.8 %
Shares of RMD traded down $1.82 during mid-day trading on Monday, hitting $234.06. 1,117,896 shares of the company's stock were exchanged, compared to its average volume of 1,017,721. The company has a market cap of $34.38 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.53 and a beta of 0.75. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week 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. The stock's 50-day moving average is $221.91 and its 200-day moving average is $233.96.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 earnings per share. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.91%. ResMed's dividend payout ratio is presently 23.79%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on RMD shares. Piper Sandler dropped their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday. The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They issued a "buy" rating for the company. StockNews.com lowered shares of ResMed from a "buy" rating to a "hold" rating in a report on Thursday. Morgan Stanley assumed coverage on shares of ResMed in a report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price objective for the company. Finally, UBS Group lowered their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ResMed presently has a consensus rating of "Moderate Buy" and an average price target of $258.83.
Read Our Latest Stock Analysis on RMD
Insider Activity at ResMed
In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction 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 owns 455,472 shares of the company's stock, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock valued at $11,298,816 over the last 90 days. 0.71% of the stock is owned by corporate insiders.
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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