Federated Investors Inc. PA cut its holdings in shares of ResMed Inc. (NYSE:RMD) by 5.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,700 shares of the medical equipment provider’s stock after selling 98 shares during the period. Federated Investors Inc. PA’s holdings in ResMed were worth $196,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of RMD. Deutsche Bank AG increased its position in shares of ResMed by 323.1% during the third quarter. Deutsche Bank AG now owns 1,367,475 shares of the medical equipment provider’s stock worth $157,721,000 after acquiring an additional 1,044,295 shares in the last quarter. AQR Capital Management LLC increased its position in shares of ResMed by 151.5% during the third quarter. AQR Capital Management LLC now owns 889,450 shares of the medical equipment provider’s stock worth $102,590,000 after acquiring an additional 535,803 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of ResMed by 149.1% during the third quarter. Renaissance Technologies LLC now owns 747,900 shares of the medical equipment provider’s stock worth $86,263,000 after acquiring an additional 447,649 shares in the last quarter. Schroder Investment Management Group increased its position in shares of ResMed by 185.9% during the third quarter. Schroder Investment Management Group now owns 468,020 shares of the medical equipment provider’s stock worth $53,981,000 after acquiring an additional 304,320 shares in the last quarter. Finally, Marshall Wace LLP increased its position in shares of ResMed by 459.0% during the third quarter. Marshall Wace LLP now owns 357,549 shares of the medical equipment provider’s stock worth $41,240,000 after acquiring an additional 293,582 shares in the last quarter. 64.87% of the stock is owned by institutional investors.
ResMed stock opened at $113.51 on Wednesday. ResMed Inc. has a fifty-two week low of $86.26 and a fifty-two week high of $116.64. The stock has a market cap of $15.70 billion, a P/E ratio of 32.16, a PEG ratio of 2.81 and a beta of 0.86. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.91 and a current ratio of 2.58.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.01. ResMed had a net margin of 13.94% and a return on equity of 26.29%. The business had revenue of $588.28 million for the quarter, compared to analysts’ expectations of $576.66 million. As a group, research analysts anticipate that ResMed Inc. will post 3.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 13th. Investors of record on Thursday, November 8th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend was Wednesday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 41.93%.
Several research analysts recently weighed in on the stock. BMO Capital Markets upgraded shares of ResMed from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $109.00 to $127.00 in a report on Monday, December 10th. Credit Suisse Group upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. ResMed has a consensus rating of “Hold” and a consensus target price of $123.50.
In related news, CEO Michael J. Farrell sold 3,300 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $104.49, for a total transaction of $344,817.00. Following the transaction, the chief executive officer now directly owns 240,487 shares in the company, valued at $25,128,486.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 3,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $112.50, for a total transaction of $337,500.00. Following the transaction, the chief financial officer now owns 96,390 shares in the company, valued at $10,843,875. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,103 shares of company stock worth $4,223,696. 1.24% of the stock is owned by corporate insiders.
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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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