Meridian Wealth Management LLC acquired a new position in ResMed Inc. (NYSE:RMD - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,353 shares of the medical equipment provider's stock, valued at approximately $303,000.
A number of other large investors have also modified their holdings of RMD. Global X Japan Co. Ltd. raised its holdings in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after buying an additional 68 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new stake in shares of ResMed in the 4th quarter valued at $33,000. Golden State Wealth Management LLC increased its position in shares of ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after buying an additional 150 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at ResMed
In related news, Director Witte Jan De sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 945 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the sale, the director directly owned 68,273 shares of the company's stock, valued at $17,443,068.77. The trade was a 1.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,063 shares of company stock worth $7,058,835 in the last ninety days. Company insiders own 0.71% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. JPMorgan Chase & Co. raised their price target on ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. UBS Group boosted their price objective on ResMed from $285.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. William Blair upgraded ResMed to a "strong-buy" rating in a report on Friday, August 1st. Finally, KeyCorp lifted their price target on ResMed from $274.00 to $298.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $274.83.
View Our Latest Report on RMD
ResMed Trading Up 1.0%
Shares of RMD traded up $2.85 on Monday, reaching $287.74. 190,905 shares of the company's stock were exchanged, compared to its average volume of 997,914. The business has a 50 day moving average price of $264.17 and a two-hundred day moving average price of $242.88. The company has a current ratio of 3.44, a quick ratio of 2.53 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $42.13 billion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 1.91 and a beta of 0.77. ResMed Inc. has a 12 month low of $199.92 and a 12 month high of $293.08.
ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts' consensus estimates of $2.47 by $0.08. ResMed had a return on equity of 25.62% and a net margin of 27.22%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $2.08 earnings per share. The firm's revenue was up 10.2% on a year-over-year basis. Research analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be given a $0.60 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio is 25.24%.
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.
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