Handelsbanken Fonder AB cut its position in ResMed Inc. (NYSE:RMD - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,092 shares of the medical equipment provider's stock after selling 1,937 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of ResMed worth $18,824,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in RMD. Apollon Wealth Management LLC raised its stake in shares of ResMed by 14.3% during the 4th quarter. Apollon Wealth Management LLC now owns 1,659 shares of the medical equipment provider's stock valued at $379,000 after purchasing an additional 208 shares during the period. Wilmington Savings Fund Society FSB raised its stake in shares of ResMed by 12.5% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 888 shares of the medical equipment provider's stock valued at $203,000 after purchasing an additional 99 shares during the period. Empowered Funds LLC raised its stake in shares of ResMed by 47.5% during the 4th quarter. Empowered Funds LLC now owns 12,110 shares of the medical equipment provider's stock valued at $2,769,000 after purchasing an additional 3,902 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of ResMed by 116.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 8,743 shares of the medical equipment provider's stock valued at $1,999,000 after purchasing an additional 4,702 shares during the period. Finally, Savant Capital LLC raised its stake in shares of ResMed by 4.7% during the 4th quarter. Savant Capital LLC now owns 10,796 shares of the medical equipment provider's stock valued at $2,469,000 after purchasing an additional 487 shares during the period. 54.98% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on RMD. KeyCorp set a $274.00 price objective on ResMed in a research note on Thursday, April 24th. Stifel Nicolaus reduced their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. 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 report on Thursday, April 24th. Morgan Stanley set a $286.00 price objective on ResMed and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Mizuho set a $265.00 price objective on ResMed in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average target price of $259.33.
View Our Latest Analysis on RMD
ResMed Trading Down 1.2%
Shares of RMD stock traded down $3.05 during trading hours on Friday, reaching $249.16. The company's stock had a trading volume of 427,411 shares, compared to its average volume of 1,010,486. The stock has a market capitalization of $36.53 billion, a P/E ratio of 29.42, a P/E/G ratio of 1.53 and a beta of 0.78. ResMed Inc. has a one year low of $179.42 and a one year high of $263.05. The firm's fifty day simple moving average is $236.81 and its 200 day simple moving average is $234.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.29 billion for 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%. The business's quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $2.13 EPS. Equities research analysts expect that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Thursday, May 8th were given a $0.53 dividend. The ex-dividend date was Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.85%. ResMed's dividend payout ratio is currently 23.79%.
Insider Transactions at ResMed
In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $243.23, for a total value of $1,948,029.07. Following the completion of the transaction, the chief executive officer now owns 455,503 shares in the company, valued at $110,791,994.69. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total value of $439,480.00. Following the completion of the transaction, the director now owns 73,218 shares of the company's stock, valued at approximately $16,088,923.32. The trade was a 2.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,132 shares of company stock worth $7,075,837. 0.71% of the stock is currently 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.
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