Sherbrooke Park Advisers LLC bought a new stake in ResMed Inc. (NYSE:RMD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,363 shares of the medical equipment provider's stock, valued at approximately $540,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in ResMed by 0.9% in the fourth 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 last quarter. Geode Capital Management LLC increased its stake in shares of ResMed by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider's stock valued at $899,860,000 after acquiring an additional 85,270 shares during the last quarter. Invesco Ltd. increased its stake in shares of ResMed by 32.2% during the 4th quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after acquiring an additional 566,046 shares during the last quarter. Northern Trust Corp increased its stake in shares of ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider's stock valued at $389,365,000 after acquiring an additional 290,664 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider's stock valued at $218,861,000 after acquiring an additional 32,973 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company's stock.
ResMed Stock Up 0.1%
NYSE:RMD traded up $0.21 during mid-day trading on Thursday, reaching $245.99. The stock had a trading volume of 173,312 shares, compared to its average volume of 1,050,530. The company has a market capitalization of $36.07 billion, a price-to-earnings ratio of 29.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.78. ResMed Inc. has a 1-year low of $179.42 and a 1-year high of $263.05. The stock's 50 day simple moving average is $227.00 and its two-hundred day simple moving average is $234.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.
ResMed (NYSE:RMD - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.01. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the firm earned $2.13 earnings per share. Equities analysts anticipate that ResMed Inc. will post 9.47 EPS for the current year.
ResMed Announces Dividend
The company 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 $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 dividend on an annualized basis and a yield of 0.86%. ResMed's dividend payout ratio (DPR) is 23.79%.
Insider Transactions at ResMed
In other news, CEO Michael J. Farrell sold 8,009 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $104,394,182.40. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director now owns 5,806 shares in the company, valued at approximately $1,413,586.82. The trade was a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,949 shares of company stock worth $11,822,260. 0.71% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on RMD shares. Royal Bank of Canada boosted their price target on ResMed from $247.00 to $255.00 and gave the company a "sector perform" rating in a research report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of ResMed in a report on Wednesday, March 19th. They set an "overweight" rating and a $280.00 target price on the stock. KeyCorp set a $274.00 target price on shares of ResMed in a report on Thursday, April 24th. Mizuho set a $265.00 target price on shares of ResMed in a report on Wednesday, April 16th. Finally, Citigroup upgraded shares of ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $258.83.
Check Out Our Latest Stock Analysis on ResMed
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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