National Pension Service boosted its position in ResMed Inc. (NYSE:RMD – Free Report) by 1.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 243,543 shares of the medical equipment provider’s stock after purchasing an additional 2,709 shares during the quarter. National Pension Service owned about 0.17% of ResMed worth $58,662,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Terra Nova Asset Management LLC lifted its position in ResMed by 0.6% in the 3rd quarter. Terra Nova Asset Management LLC now owns 7,805 shares of the medical equipment provider’s stock valued at $2,136,000 after purchasing an additional 46 shares during the last quarter. IMA Advisory Services Inc. lifted its position in ResMed by 52.7% in the 3rd quarter. IMA Advisory Services Inc. now owns 139 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 48 shares during the last quarter. Occidental Asset Management LLC lifted its position in ResMed by 3.0% in the 4th quarter. Occidental Asset Management LLC now owns 1,699 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 49 shares during the last quarter. Wedmont Private Capital lifted its position in ResMed by 2.7% in the 4th quarter. Wedmont Private Capital now owns 2,183 shares of the medical equipment provider’s stock valued at $542,000 after purchasing an additional 57 shares during the last quarter. Finally, New Wave Wealth Advisors LLC lifted its position in ResMed by 3.0% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,956 shares of the medical equipment provider’s stock valued at $471,000 after purchasing an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
RMD has been the topic of several recent research reports. Robert W. Baird set a $225.00 price objective on shares of ResMed in a research report on Friday, May 1st. Citigroup cut their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research note on Wednesday, April 15th. They set an “overweight” rating on the stock. Finally, KeyCorp lowered their target price on shares of ResMed from $302.00 to $290.00 and set an “overweight” rating on the stock in a research note on Monday, April 27th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.18.
ResMed Stock Performance
Shares of RMD opened at $190.58 on Friday. The firm’s 50 day moving average is $216.93 and its 200-day moving average is $239.34. The stock has a market capitalization of $27.64 billion, a P/E ratio of 18.38, a P/E/G ratio of 1.21 and a beta of 0.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. ResMed Inc. has a 12-month low of $190.38 and a 12-month high of $293.81.
ResMed (NYSE:RMD – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.07. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 EPS. Equities research analysts anticipate that ResMed Inc. will post 11.13 EPS for the current fiscal year.
ResMed Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Thursday, May 14th. ResMed’s dividend payout ratio (DPR) is presently 23.14%.
Insider Activity at ResMed
In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total transaction of $1,252,890.73. Following the completion of the transaction, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $117,035,959.69. This trade represents a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 18,973 shares of company stock worth $4,386,031. 0.65% of the stock is currently owned by insiders.
ResMed Company Profile
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.
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