Goldman Sachs Group Inc. boosted its stake in ResMed Inc. (NYSE:RMD – Free Report) by 13.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 979,087 shares of the medical equipment provider’s stock after buying an additional 118,296 shares during the period. Goldman Sachs Group Inc. owned approximately 0.67% of ResMed worth $235,833,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Imprint Wealth LLC acquired a new position in ResMed in the 3rd quarter valued at about $26,000. WFA of San Diego LLC acquired a new position in ResMed in the 2nd quarter valued at about $26,000. International Assets Investment Management LLC acquired a new position in ResMed in the 4th quarter valued at about $25,000. ORG Partners LLC grew its stake in ResMed by 181.6% in the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in ResMed in the 3rd quarter valued at about $31,000. Institutional investors and hedge funds own 54.98% of the company’s stock.
Insider Buying and Selling
In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total transaction of $450,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $207.82, for a total transaction of $1,037,229.62. Following the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. This trade represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 16,973 shares of company stock valued at $3,865,591. 0.65% of the stock is currently owned by insiders.
ResMed Stock Performance
ResMed (NYSE:RMD – Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.07. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter in the previous year, the firm posted $2.37 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current year.
ResMed Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.
Wall Street Analysts Forecast Growth
RMD has been the subject of a number of recent research reports. Citigroup cut their price objective on shares of ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Wells Fargo & Company cut their price objective on shares of ResMed from $270.00 to $227.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a report on Wednesday, April 15th. They issued an “overweight” rating for the company. Evercore set a $255.00 price objective on shares of ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. Finally, Wall Street Zen downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. One investment 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 stock. According to data from MarketBeat, ResMed has an average rating of “Moderate Buy” and an average target price of $286.18.
Read Our Latest Stock Report on ResMed
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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