BLI Banque de Luxembourg Investments bought a new position in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 325,987 shares of the medical equipment provider's stock, valued at approximately $74,793,000. ResMed accounts for approximately 2.0% of BLI Banque de Luxembourg Investments' portfolio, making the stock its 9th largest position. BLI Banque de Luxembourg Investments owned about 0.22% of ResMed at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Howard Capital Management Inc. boosted its stake in ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider's stock worth $206,000 after buying an additional 45 shares during the last quarter. Wedmont Private Capital grew its holdings in ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider's stock valued at $475,000 after purchasing an additional 52 shares during the period. Faithward Advisors LLC increased its position in ResMed by 4.3% during the fourth quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider's stock worth $292,000 after purchasing an additional 53 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its stake in ResMed by 4.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,356 shares of the medical equipment provider's stock worth $310,000 after purchasing an additional 60 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of ResMed by 2.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 2,570 shares of the medical equipment provider's stock valued at $610,000 after purchasing an additional 64 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
ResMed Price Performance
Shares of NYSE:RMD opened at $239.84 on Friday. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $222.32 and a 200 day simple moving average of $233.94. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05. The company has a market cap of $35.17 billion, a PE ratio of 28.32, a P/E/G ratio of 1.53 and a beta of 0.75.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 EPS. On average, sell-side analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Dividend Announcement
The company also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.88%. ResMed's dividend payout ratio (DPR) is presently 23.79%.
Analyst Ratings Changes
Several research analysts recently weighed in on RMD shares. Mizuho set a $265.00 target price on ResMed in a research report on Wednesday, April 16th. Piper Sandler reduced their price objective on ResMed from $260.00 to $248.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. KeyCorp set a $274.00 target price on shares of ResMed in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target on the stock. Finally, StockNews.com raised shares of ResMed from a "hold" rating to a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and a consensus target price of $258.83.
View Our Latest Stock Report on RMD
Insider Activity at ResMed
In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Farrell sold 8,009 shares of the company's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 455,472 shares of the company's stock, valued at $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 worth $11,298,816 in the last ninety days. 0.71% of the stock is owned by insiders.
About ResMed
(
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.
See Also
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ResMed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ResMed wasn't on the list.
While ResMed currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
