Charles Schwab Trust Co acquired a new stake in shares of ResMed Inc. (NYSE:RMD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,646 shares of the medical equipment provider's stock, valued at approximately $425,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in ResMed by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider's stock valued at $4,139,815,000 after buying an additional 320,240 shares during the last quarter. Northern Trust Corp increased its position in shares of ResMed by 2.5% during the first quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider's stock worth $390,516,000 after acquiring an additional 41,951 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in ResMed by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider's stock valued at $223,431,000 after buying an additional 41,108 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in ResMed by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider's stock valued at $218,791,000 after acquiring an additional 22,789 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of ResMed by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 793,760 shares of the medical equipment provider's stock worth $177,652,000 after buying an additional 51,348 shares during the period. Institutional investors and hedge funds own 54.98% of the company's stock.
Insider Buying and Selling at ResMed
In other ResMed news, Director Peter C. Farrell sold 945 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $255.49, for a total transaction of $241,438.05. Following the transaction, the director owned 68,273 shares in the company, valued at approximately $17,443,068.77. This represents a 1.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Hernandez sold 2,575 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the completion of the transaction, the director owned 4,045 shares in the company, valued at $1,161,319.50. This trade represents a 38.90% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,588 shares of company stock valued at $5,289,241. 0.71% of the stock is currently owned by company insiders.
ResMed Trading Up 1.2%
Shares of NYSE RMD opened at $270.54 on Friday. The firm has a 50 day moving average price of $277.76 and a two-hundred day moving average price of $251.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed Inc. has a 52-week low of $199.92 and a 52-week high of $293.81. The stock has a market cap of $39.61 billion, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 1.82 and a beta of 0.85.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. ResMed's revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. As a group, equities analysts forecast that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, August 14th were issued a dividend of $0.60 per share. The ex-dividend date was Thursday, August 14th. This represents a $2.40 dividend on an annualized basis and a yield of 0.9%. This is an increase from ResMed's previous quarterly dividend of $0.53. ResMed's dividend payout ratio (DPR) is currently 25.24%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a report on Tuesday, September 2nd. Stifel Nicolaus upped their price target on shares of ResMed from $240.00 to $270.00 and gave the company a "hold" rating in a report on Friday, August 1st. Citigroup began coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a "buy" rating and a $330.00 price target for the company. Mizuho raised their price objective on shares of ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, William Blair raised shares of ResMed to a "strong-buy" rating in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and an average target price of $294.20.
Check Out Our Latest Stock Report on ResMed
ResMed Company Profile
(
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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