OMERS ADMINISTRATION Corp bought a new position in ResMed Inc. (NYSE:RMD – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 22,106 shares of the medical equipment provider’s stock, valued at approximately $4,308,000.
Several other hedge funds also recently modified their holdings of the business. Hsbc Holdings PLC boosted its position in ResMed by 17.6% during the fourth quarter. Hsbc Holdings PLC now owns 328,785 shares of the medical equipment provider’s stock worth $79,321,000 after purchasing an additional 49,253 shares during the period. Goldman Sachs Group Inc. grew its holdings in ResMed by 13.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 979,087 shares of the medical equipment provider’s stock valued at $235,833,000 after purchasing an additional 118,296 shares during the last quarter. BlackRock Inc. bought a new position in shares of ResMed in the second quarter valued at approximately $2,400,375,000. Fideuram Asset Management Ireland dac bought a new position in shares of ResMed in the fourth quarter valued at approximately $4,712,000. Finally, Polymer Capital Management HK LTD acquired a new stake in shares of ResMed in the second quarter worth $972,000. Institutional investors and hedge funds own 54.98% of the company’s stock.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of ResMed from $234.00 to $244.00 and gave the stock a “sector perform” rating in a report on Friday, August 7th. Robert W. Baird set a $213.00 target price on shares of ResMed in a research report on Friday, August 7th. Mizuho cut their target price on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Citigroup reaffirmed a “neutral” rating and issued a $235.00 price target (down from $270.00) on shares of ResMed in a research report on Sunday, July 12th. Finally, Piper Sandler dropped their price objective on ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $239.38.
Insiders Place Their Bets
In related news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total value of $1,026,598.79. Following the completion of the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the transaction, the director directly owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This trade represents a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,973 shares of company stock valued at $4,885,436 over the last 90 days. 0.65% of the stock is currently owned by corporate insiders.
ResMed Stock Up 1.7%
NYSE RMD opened at $236.36 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. The firm has a 50-day simple moving average of $208.86 and a 200 day simple moving average of $219.51. ResMed Inc. has a twelve month low of $180.26 and a twelve month high of $286.91. The stock has a market cap of $34.09 billion, a PE ratio of 22.66, a PEG ratio of 1.46 and a beta of 0.76.
ResMed (NYSE:RMD – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.55 earnings per share. On average, research analysts forecast that ResMed Inc. will post 12.03 EPS for the current year.
ResMed Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is a boost from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is presently 25.31%.
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.
Read More
- Five stocks we like better than ResMed
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
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.
