Swiss Life Asset Management Ltd lessened its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 34.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,602 shares of the medical equipment provider's stock after selling 14,421 shares during the quarter. Swiss Life Asset Management Ltd's holdings in ResMed were worth $6,648,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in ResMed during the 4th quarter valued at approximately $25,000. ORG Partners LLC boosted its position in shares of ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider's stock worth $26,000 after acquiring an additional 69 shares during the last quarter. Imprint Wealth LLC purchased a new position in ResMed during the third quarter valued at $26,000. WFA of San Diego LLC bought a new stake in ResMed in the 2nd quarter valued at $26,000. Finally, Sunbelt Securities Inc. purchased a new stake in ResMed in the 3rd quarter worth $31,000. 54.98% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total transaction of $450,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $251.03, for a total value of $1,252,890.73. Following the sale, the chief executive officer owned 466,223 shares in the company, valued at $117,035,959.69. The trade was a 1.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 18,973 shares of company stock valued at $4,386,031. Company insiders own 0.65% of the company's stock.
ResMed Stock Performance
ResMed stock opened at $202.42 on Thursday. The company's 50-day moving average price is $226.19 and its 200-day moving average price is $243.21. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market cap of $29.49 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.30 and a beta of 0.84. ResMed Inc. has a twelve month low of $198.61 and a twelve month high of $293.81.
ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 EPS for the quarter, beating analysts' consensus estimates of $2.79 by $0.07. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.37 EPS. On average, equities research analysts forecast that ResMed Inc. will post 11.13 EPS for the current fiscal year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed's dividend payout ratio (DPR) is presently 23.14%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Royal Bank Of Canada raised their price objective on ResMed from $314.00 to $321.00 and gave the company an "outperform" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. started coverage on ResMed in a research note on Wednesday, April 15th. They set an "overweight" rating for the company. Evercore set a $255.00 price target on ResMed and gave the company an "outperform" rating in a report on Monday, April 13th. KeyCorp reduced their price objective on ResMed from $302.00 to $290.00 and set an "overweight" rating on the stock in a research note on Monday, April 27th. Finally, Wells Fargo & Company lowered their target price on ResMed from $270.00 to $227.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, ResMed has a consensus rating of "Moderate Buy" and an average target price of $286.18.
Read Our Latest Analysis on RMD
ResMed Profile
(
Free Report)
ResMed NYSE: RMD is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.
ResMed's product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.
Further Reading
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