Occudo Quantitative Strategies LP purchased a new position in ResMed Inc. (NYSE:RMD - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,807 shares of the medical equipment provider's stock, valued at approximately $642,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in ResMed by 285.1% in the fourth quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider's stock worth $136,000 after buying an additional 439 shares in the last quarter. Peak Financial Advisors LLC purchased a new stake in ResMed in the 4th quarter worth $2,972,000. Spire Wealth Management lifted its stake in ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider's stock worth $2,470,000 after purchasing an additional 1,100 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in ResMed by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider's stock valued at $14,105,000 after purchasing an additional 1,629 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in ResMed by 38.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,830 shares of the medical equipment provider's stock worth $2,989,000 after purchasing an additional 3,576 shares during the period. 54.98% of the stock is owned by institutional investors.
ResMed Price Performance
NYSE:RMD traded up $3.17 during mid-day trading on Friday, reaching $251.75. The stock had a trading volume of 839,605 shares, compared to its average volume of 1,019,252. The stock has a 50-day simple moving average of $225.34 and a two-hundred day simple moving average of $234.17. ResMed Inc. has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market capitalization of $36.91 billion, a PE ratio of 29.72, a P/E/G ratio of 1.53 and a beta of 0.78.
ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings results 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 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $2.13 EPS. The business's revenue was up 7.9% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current year.
ResMed Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's payout ratio is currently 23.79%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on RMD shares. Mizuho set a $265.00 price target on ResMed in a report on Wednesday, April 16th. Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a research report on Wednesday, March 5th. Piper Sandler decreased their target price on ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. StockNews.com raised ResMed from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Finally, UBS Group decreased their price target on ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $258.83.
Get Our Latest Stock Analysis on ResMed
Insiders Place Their Bets
In related news, insider Kaushik Ghoshal sold 9,113 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. This trade represents a 48.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $243.23, for a total transaction of $1,948,029.07. Following the transaction, the chief executive officer now owns 455,503 shares of the company's stock, valued at $110,791,994.69. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,949 shares of company stock worth $11,335,320 in the last three months. 0.71% of the stock is currently owned by corporate insiders.
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.
Further Reading
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