Savant Capital LLC lessened its holdings in shares of ResMed Inc. (NYSE:RMD – Free Report) by 56.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,213 shares of the medical equipment provider’s stock after selling 5,431 shares during the period. Savant Capital LLC’s holdings in ResMed were worth $1,015,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Intech Investment Management LLC grew its position in shares of ResMed by 116.4% during the 4th quarter. Intech Investment Management LLC now owns 67,729 shares of the medical equipment provider’s stock valued at $16,314,000 after buying an additional 36,430 shares during the last quarter. Huntington National Bank grew its position in shares of ResMed by 6.8% during the 4th quarter. Huntington National Bank now owns 1,927 shares of the medical equipment provider’s stock valued at $464,000 after buying an additional 123 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ResMed by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock valued at $1,032,877,000 after buying an additional 51,218 shares during the last quarter. Employees Retirement System of Texas grew its position in shares of ResMed by 29.1% during the 4th quarter. Employees Retirement System of Texas now owns 28,780 shares of the medical equipment provider’s stock valued at $6,932,000 after buying an additional 6,480 shares during the last quarter. Finally, Flputnam Investment Management Co. grew its position in ResMed by 4.3% in the 4th quarter. Flputnam Investment Management Co. now owns 6,289 shares of the medical equipment provider’s stock worth $1,515,000 after purchasing an additional 258 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.
Insider Buying and Selling
In other news, CEO Michael J. Farrell sold 4,991 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $207.82, for a total value of $1,037,229.62. Following the completion of the sale, the chief executive officer directly owned 466,223 shares of the company’s stock, valued at approximately $96,890,463.86. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 2,000 shares of the 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,973 shares of company stock valued at $3,865,591. Company insiders own 0.65% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on RMD
ResMed Trading Down 1.8%
Shares of NYSE:RMD opened at $183.01 on Wednesday. The company has a 50 day moving average of $216.11 and a 200-day moving average of $238.80. The firm has a market cap of $26.55 billion, a P/E ratio of 17.65, a P/E/G ratio of 1.19 and a beta of 0.80. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $293.81. 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 (NYSE:RMD – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $2.86 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.07. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.42 billion. ResMed had a net margin of 27.44% and a return on equity of 25.35%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $2.37 EPS. As a group, analysts anticipate that ResMed Inc. will post 11.13 earnings per share for the current fiscal year.
ResMed Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, May 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is currently 23.14%.
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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