Baird Financial Group Inc. lowered its stake in ResMed Inc. (NYSE:RMD - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,071 shares of the medical equipment provider's stock after selling 15,820 shares during the period. Baird Financial Group Inc. owned 0.11% of ResMed worth $37,750,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in RMD. Optiver Holding B.V. purchased a new position in shares of ResMed during the fourth quarter valued at about $33,000. Itau Unibanco Holding S.A. grew its holdings in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares during the period. OFI Invest Asset Management purchased a new position in shares of ResMed in the 4th quarter valued at approximately $39,000. Coppell Advisory Solutions LLC boosted its position in shares of ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider's stock valued at $42,000 after purchasing an additional 175 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in ResMed in the fourth quarter worth $44,000. 54.98% of the stock is owned by hedge funds and other institutional investors.
ResMed Stock Up 0.3 %
RMD stock opened at $240.66 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The stock has a market capitalization of $35.29 billion, a P/E ratio of 28.41, a P/E/G ratio of 1.53 and a beta of 0.75. The business has a fifty day moving average price of $222.44 and a 200-day moving average price of $233.91.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. ResMed's revenue was up 7.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.13 EPS. Equities analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the stock. UBS Group dropped their target price on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Mizuho set a $265.00 target price on shares of ResMed in a research note on Wednesday, April 16th. Morgan Stanley assumed coverage on ResMed in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $280.00 price target on the stock. Finally, The Goldman Sachs Group assumed coverage on ResMed in a research report on Thursday, January 16th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $258.83.
Get Our Latest Stock Analysis on RMD
Insiders Place Their Bets
In related news, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the transaction, the chief executive officer now owns 455,472 shares in the company, valued at $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 48,949 shares of company stock valued at $11,283,302. Company insiders own 0.71% of the company's stock.
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.
Further Reading
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