Tower Research Capital LLC TRC grew its position in shares of ResMed Inc. (NYSE:RMD - Free Report) by 147.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,445 shares of the medical equipment provider's stock after acquiring an additional 5,032 shares during the quarter. Tower Research Capital LLC TRC's holdings in ResMed were worth $1,931,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider's stock valued at $4,156,089,000 after purchasing an additional 160,590 shares during the period. Geode Capital Management LLC raised its holdings in shares of ResMed by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after buying an additional 85,270 shares during the last quarter. Invesco Ltd. boosted its position in shares of ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock worth $531,706,000 after buying an additional 566,046 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in ResMed by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock worth $218,861,000 after buying an additional 32,973 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in ResMed by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 742,412 shares of the medical equipment provider's stock valued at $169,789,000 after acquiring an additional 65,999 shares during the period. Institutional investors own 54.98% of the company's stock.
Insider Buying and Selling
In other news, CEO Michael J. Farrell sold 8,009 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now owns 77,218 shares of the company's stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,013 shares of company stock valued at $11,298,816. Corporate insiders own 0.71% of the company's stock.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Morgan Stanley started coverage on ResMed in a research report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $286.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday. Needham & Company LLC reissued a "hold" rating on shares of ResMed in a research note on Friday, January 31st. UBS Group reduced their price target on shares of ResMed from $290.00 to $285.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Piper Sandler decreased their price objective on shares of ResMed from $260.00 to $248.00 and set a "neutral" rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $258.83.
View Our Latest Report on RMD
ResMed Price Performance
Shares of NYSE:RMD traded down $1.99 on Monday, reaching $233.89. 417,340 shares of the company traded hands, compared to its average volume of 1,068,549. The stock has a market capitalization of $34.35 billion, a PE ratio of 27.61, a P/E/G ratio of 1.53 and a beta of 0.75. 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 company's 50 day moving average is $221.92 and its 200-day moving average is $234.00. ResMed Inc. has a fifty-two week low of $179.42 and a fifty-two week high of $263.05.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, meeting analysts' consensus estimates of $2.37. ResMed had a net margin of 25.34% and a return on equity of 26.17%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. As a group, analysts anticipate that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.
ResMed Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, May 8th. ResMed's dividend payout ratio is currently 23.79%.
ResMed 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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