Keybank National Association OH increased its holdings in ResMed Inc. (NYSE:RMD) by 7.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,440 shares of the medical equipment provider’s stock after acquiring an additional 459 shares during the period. Keybank National Association OH’s holdings in ResMed were worth $1,104,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. AXA grew its stake in shares of ResMed by 739.1% in the 1st quarter. AXA now owns 20,198 shares of the medical equipment provider’s stock valued at $2,975,000 after buying an additional 17,791 shares in the last quarter. State Street Corp lifted its stake in ResMed by 3.4% in the first quarter. State Street Corp now owns 6,657,104 shares of the medical equipment provider’s stock valued at $980,525,000 after acquiring an additional 218,417 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its position in ResMed by 90.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 3,880 shares of the medical equipment provider’s stock worth $745,000 after acquiring an additional 1,840 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of ResMed by 28.5% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,803 shares of the medical equipment provider’s stock worth $346,000 after purchasing an additional 400 shares during the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of ResMed by 15.1% during the 2nd quarter. DNB Asset Management AS now owns 17,694 shares of the medical equipment provider’s stock valued at $3,397,000 after purchasing an additional 2,321 shares in the last quarter. 69.38% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Thursday, August 6th. The Goldman Sachs Group lowered ResMed from a “buy” rating to a “neutral” rating in a report on Thursday, August 6th. UBS Group upgraded ResMed from a “neutral” rating to a “buy” rating and set a $210.00 target price for the company in a report on Monday. Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 30th. Finally, Bank of America raised shares of ResMed from an “underperform” rating to a “neutral” rating and set a $186.00 price target on the stock in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $188.50.
Shares of RMD stock opened at $209.42 on Thursday. ResMed Inc. has a 12 month low of $108.85 and a 12 month high of $212.28. The firm has a market cap of $30.35 billion, a PE ratio of 49.04, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. The stock has a 50 day moving average of $176.88 and a 200-day moving average of $176.18. The company has a quick ratio of 1.84, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 29th. The medical equipment provider reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. ResMed had a return on equity of 30.34% and a net margin of 21.02%. The company had revenue of $751.90 million during the quarter, compared to analyst estimates of $709.47 million. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 4.75 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, November 12th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.74%. ResMed’s dividend payout ratio (DPR) is presently 32.77%.
In other news, insider Rajwant Sodhi sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $195.16, for a total transaction of $292,740.00. Following the completion of the transaction, the insider now directly owns 31,089 shares in the company, valued at $6,067,329.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $177.55, for a total value of $443,875.00. Following the transaction, the chief financial officer now owns 89,275 shares of the company’s stock, valued at $15,850,776.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,110 shares of company stock valued at $4,605,382. Corporate insiders own 1.33% of the company’s stock.
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.
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