Pacer Advisors Inc. lifted its position in ResMed Inc. (NYSE:RMD – Free Report) by 268.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 479,912 shares of the medical equipment provider’s stock after buying an additional 349,713 shares during the period. Pacer Advisors Inc. owned approximately 0.33% of ResMed worth $115,596,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in ResMed by 52.6% in the first quarter. Jones Financial Companies Lllp now owns 2,882 shares of the medical equipment provider’s stock worth $645,000 after purchasing an additional 994 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of ResMed during the 2nd quarter valued at $389,000. Brown Advisory Inc. lifted its holdings in shares of ResMed by 17.8% during the 2nd quarter. Brown Advisory Inc. now owns 1,586 shares of the medical equipment provider’s stock valued at $409,000 after purchasing an additional 240 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in shares of ResMed in the 2nd quarter worth $206,000. Finally, Alliancebernstein L.P. boosted its position in shares of ResMed by 24.2% in the 2nd quarter. Alliancebernstein L.P. now owns 286,078 shares of the medical equipment provider’s stock worth $73,808,000 after purchasing an additional 55,790 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.
ResMed Stock Performance
Shares of RMD stock opened at $188.83 on Friday. The business has a fifty day moving average of $207.57 and a 200 day moving average of $233.47. ResMed Inc. has a 1 year low of $180.26 and a 1 year high of $293.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.01 and a quick ratio of 2.33. The firm has a market capitalization of $27.39 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.19 and a beta of 0.80.
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 $0.60 dividend. The ex-dividend date was Thursday, May 14th. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. ResMed’s dividend payout ratio is currently 23.14%.
Insider Buying and Selling
In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $193.96, for a total transaction of $968,054.36. Following the sale, the chief executive officer owned 466,256 shares of the company’s stock, valued at approximately $90,435,013.76. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 16,973 shares of company stock worth $3,580,754. 0.65% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
RMD has been the topic of several recent analyst reports. Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a research report on Monday, April 13th. Robert W. Baird set a $225.00 price target on ResMed in a report on Friday, May 1st. Wells Fargo & Company dropped their price target on ResMed from $270.00 to $227.00 and set an “equal weight” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada upped their price objective on shares of ResMed from $314.00 to $321.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Finally, Weiss Ratings cut shares of ResMed from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.00.
Check Out Our Latest Research 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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