IFM Investors Pty Ltd lifted its stake in shares of ResMed Inc. (NYSE:RMD - Free Report) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 29,483 shares of the medical equipment provider's stock after purchasing an additional 2,905 shares during the period. IFM Investors Pty Ltd's holdings in ResMed were worth $7,197,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its stake in shares of ResMed by 121.4% during the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new position in ResMed in the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC boosted its holdings in ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after buying an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. boosted its holdings in ResMed by 1,000.0% in the 4th 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 period. Hedge funds and other institutional investors own 54.98% of the company's stock.
ResMed Trading Down 0.5%
RMD traded down $1.23 during trading on Wednesday, hitting $255.36. 449,900 shares of the stock were exchanged, compared to its average volume of 967,781. The firm has a 50 day simple moving average of $249.26 and a 200 day simple moving average of $236.25. The firm has a market cap of $37.44 billion, a price-to-earnings ratio of 28.66, a P/E/G ratio of 1.61 and a beta of 0.77. ResMed Inc. has a 1 year low of $188.56 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.49 and a current ratio of 3.41.
ResMed (NYSE:RMD - Get Free Report) last posted 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. ResMed had a return on equity of 25.67% and a net margin of 26.15%. The firm had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter last year, the firm earned $2.13 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. ResMed's dividend payout ratio is presently 23.79%.
Insider Activity at ResMed
In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $256.72, for a total transaction of $2,056,070.48. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at $116,936,730.16. This trade represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Witte Jan De sold 2,000 shares of ResMed stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $243.47, for a total value of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares of the company's stock, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,013 shares of company stock worth $7,238,913 in the last 90 days. Corporate insiders own 0.71% of the company's stock.
Analyst Ratings Changes
Several research analysts recently commented on RMD shares. Mizuho set a $265.00 price objective on shares of ResMed in a report on Wednesday, April 16th. KeyCorp set a $274.00 price objective on shares of ResMed in a report on Thursday, April 24th. Wall Street Zen downgraded shares of ResMed from a "buy" rating to a "hold" rating in a report on Saturday, May 24th. JPMorgan Chase & Co. raised their price target on shares of ResMed from $286.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, UBS Group decreased their price objective on shares of ResMed from $290.00 to $285.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of "Moderate Buy" and an average target price of $259.33.
Get 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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