Vontobel Holding Ltd. increased its holdings in ResMed Inc. (NYSE:RMD - Free Report) by 49.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,143 shares of the medical equipment provider's stock after acquiring an additional 1,707 shares during the quarter. Vontobel Holding Ltd.'s holdings in ResMed were worth $1,151,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. Jones Financial Companies Lllp increased its stake in ResMed by 38.3% in the 4th quarter. Jones Financial Companies Lllp now owns 1,888 shares of the medical equipment provider's stock valued at $432,000 after buying an additional 523 shares during the period. SBI Securities Co. Ltd. acquired a new position in ResMed in the 4th quarter valued at $67,000. Victory Capital Management Inc. increased its stake in ResMed by 16.6% in the 4th quarter. Victory Capital Management Inc. now owns 136,029 shares of the medical equipment provider's stock valued at $31,108,000 after buying an additional 19,319 shares during the period. Assetmark Inc. increased its stake in ResMed by 6,173.9% in the 4th quarter. Assetmark Inc. now owns 1,443 shares of the medical equipment provider's stock valued at $330,000 after buying an additional 1,420 shares during the period. Finally, Atria Investments Inc increased its stake in ResMed by 21.5% in the 4th quarter. Atria Investments Inc now owns 2,106 shares of the medical equipment provider's stock valued at $482,000 after buying an additional 372 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.
ResMed Price Performance
Shares of RMD stock traded up $0.30 during trading hours on Tuesday, hitting $256.71. The company's stock had a trading volume of 535,223 shares, compared to its average volume of 969,490. The business has a fifty day moving average of $248.88 and a 200-day moving average of $236.11. The stock has a market cap of $37.64 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.61 and a beta of 0.77. ResMed Inc. has a twelve month low of $188.56 and a twelve month high of $263.05. The company has a current ratio of 3.41, a quick ratio of 2.49 and a debt-to-equity ratio of 0.12.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.01. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a net margin of 26.15% and a return on equity of 25.67%. The company's quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 earnings per share. As a group, equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 8th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, May 8th. ResMed's payout ratio is 23.79%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on RMD shares. KeyCorp set a $274.00 price target on shares of ResMed in a report on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Mizuho set a $265.00 target price on shares of ResMed in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of ResMed from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Piper Sandler lowered their target price on shares of ResMed from $260.00 to $248.00 and set a "neutral" 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 issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ResMed currently has a consensus rating of "Moderate Buy" and an average target price of $259.33.
Read Our Latest Analysis on RMD
Insider Activity at ResMed
In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total transaction of $484,500.00. Following the transaction, the director owned 71,218 shares of the company's stock, valued at $17,252,560.50. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Witte Jan De sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the transaction, the director directly owned 5,806 shares in the company, valued at approximately $1,413,586.82. This represents a 25.62% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,004 shares of company stock valued at $5,182,843. Company insiders own 0.71% of the company's stock.
ResMed Company Profile
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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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