Norges Bank purchased a new position in shares of ResMed Inc. (NYSE:RMD – Free Report) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,034,037 shares of the medical equipment provider’s stock, valued at approximately $249,068,000.
Several other institutional investors have also modified their holdings of RMD. International Assets Investment Management LLC purchased a new position in shares of ResMed during the 4th quarter worth $25,000. ORG Partners LLC grew its position 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 acquiring an additional 69 shares in the last quarter. 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. Finally, Sunbelt Securities Inc. acquired a new position in ResMed in the 3rd quarter valued at about $31,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.
ResMed Stock Performance
Shares of RMD opened at $183.01 on Wednesday. The stock has a 50 day moving average price of $216.11 and a 200 day moving average price of $238.80. The company has a quick ratio of 2.33, a current ratio of 3.01 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $26.55 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80. ResMed Inc. has a 52-week low of $180.26 and a 52-week high of $293.81.
ResMed Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, May 14th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, May 14th. ResMed’s dividend payout ratio is 23.14%.
Insider Buying and Selling
In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $251.03, for a total value of $1,252,890.73. Following the completion of the sale, the chief executive officer owned 466,223 shares in the company, valued at approximately $117,035,959.69. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’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 value of $450,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 16,973 shares of company stock valued at $3,865,591 over the last ninety days. 0.65% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
A number of brokerages have recently commented on RMD. Wall Street Zen downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. KeyCorp lowered their price objective on ResMed from $302.00 to $290.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. Weiss Ratings downgraded ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Royal Bank Of Canada boosted their price objective on ResMed from $314.00 to $321.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. Finally, Robert W. Baird set a $225.00 price objective on ResMed in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $286.18.
Check Out Our Latest Report on ResMed
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.
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