Swiss National Bank increased its holdings in ResMed Inc. (NYSE:RMD – Free Report) by 7.2% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 428,380 shares of the medical equipment provider’s stock after buying an additional 28,760 shares during the quarter. Swiss National Bank owned about 0.29% of ResMed worth $96,163,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. First Trust Advisors LP grew its holdings in shares of ResMed by 240.9% in the fourth quarter. First Trust Advisors LP now owns 1,517,592 shares of the medical equipment provider’s stock worth $365,542,000 after acquiring an additional 1,072,394 shares during the period. Norges Bank bought a new position in ResMed in the fourth quarter valued at about $249,068,000. Deutsche Bank AG boosted its position in ResMed by 126.0% in the fourth quarter. Deutsche Bank AG now owns 1,413,477 shares of the medical equipment provider’s stock worth $340,464,000 after purchasing an additional 787,949 shares during the last quarter. Morgan Stanley boosted its position in ResMed by 25.0% in the fourth quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after purchasing an additional 578,559 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of ResMed by 103.1% during the 4th quarter. Swedbank AB now owns 1,102,476 shares of the medical equipment provider’s stock valued at $265,553,000 after purchasing an additional 559,765 shares during the period. Institutional investors own 54.98% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on RMD shares. JPMorgan Chase & Co. began coverage on shares of ResMed in a report on Wednesday, April 15th. They set an “overweight” rating for the company. Wells Fargo & Company dropped their price target on shares of ResMed from $227.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings downgraded shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Royal Bank Of Canada cut ResMed from an “outperform” rating to a “sector perform” rating and set a $234.00 target price on the stock. in a report on Thursday. Finally, Citigroup reiterated a “neutral” rating and set a $235.00 target price (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and a consensus price target of $250.00.
Insider Buying and Selling
In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $218.55, for a total value of $1,090,783.05. Following the completion of the sale, the chief executive officer directly owned 466,223 shares in the company, valued at approximately $101,893,036.65. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,973 shares of company stock worth $3,096,067 over the last three months. Corporate insiders own 0.65% of the company’s stock.
ResMed Price Performance
Shares of ResMed stock opened at $198.55 on Tuesday. The firm has a market cap of $28.80 billion, a PE ratio of 19.15, a PEG ratio of 1.19 and a beta of 0.78. The stock has a 50 day moving average of $199.39 and a 200 day moving average of $226.21. The company has a current ratio of 3.01, a quick ratio of 2.33 and a debt-to-equity ratio of 0.06. ResMed Inc. has a 12 month low of $180.26 and a 12 month high of $293.81.
ResMed (NYSE:RMD – Get Free Report) last announced its earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company earned $2.37 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 11.13 EPS for the current fiscal year.
ResMed Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, May 14th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. ResMed’s dividend payout ratio is presently 23.14%.
ResMed 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.
Read More
- Five stocks we like better than ResMed
- The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Is Domino’s Stock Serving Up a Buying Opportunity?
- A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free
- Why Gold Miners Could Be the Market’s Biggest Comeback Story
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD – Free Report).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.
