Aviva PLC boosted its position in shares of ResMed Inc. (NYSE:RMD) by 17.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,672 shares of the medical equipment provider’s stock after buying an additional 11,108 shares during the period. Aviva PLC owned approximately 0.05% of ResMed worth $10,851,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in RMD. Franklin Resources Inc. lifted its holdings in shares of ResMed by 16.0% during the 4th quarter. Franklin Resources Inc. now owns 411,512 shares of the medical equipment provider’s stock worth $63,773,000 after acquiring an additional 56,692 shares during the period. Advisor Group Inc. lifted its position in shares of ResMed by 7.9% during the 4th quarter. Advisor Group Inc. now owns 20,064 shares of the medical equipment provider’s stock worth $3,110,000 after buying an additional 1,470 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of ResMed by 1.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,028 shares of the medical equipment provider’s stock worth $4,276,000 after acquiring an additional 415 shares during the last quarter. Country Trust Bank acquired a new stake in shares of ResMed during the 1st quarter valued at $29,000. Finally, Renaissance Technologies LLC lifted its position in shares of ResMed by 1,710.5% in the 4th quarter. Renaissance Technologies LLC now owns 128,546 shares of the medical equipment provider’s stock worth $19,913,000 after purchasing an additional 121,446 shares during the period. 67.17% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider James Hollingshead sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $160.13, for a total value of $192,156.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider David Pendarvis sold 5,919 shares of ResMed stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $160.61, for a total transaction of $950,650.59. Following the sale, the insider now owns 136,322 shares of the company’s stock, valued at $21,894,676.42. The disclosure for this sale can be found here. Insiders have sold a total of 18,278 shares of company stock valued at $2,895,235 over the last 90 days. Company insiders own 1.22% of the company’s stock.
A number of equities research analysts have commented on the company. Morgan Stanley cut ResMed from an “overweight” rating to an “equal weight” rating and set a $165.00 price objective for the company. in a research note on Tuesday, February 18th. They noted that the move was a valuation call. Needham & Company LLC assumed coverage on shares of ResMed in a research note on Thursday, April 30th. They issued a “hold” rating for the company. Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a research report on Thursday, March 26th. Oppenheimer raised ResMed from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Thursday, April 30th. Finally, William Blair restated a “buy” rating on shares of ResMed in a research note on Tuesday, March 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $167.50.
Shares of ResMed stock traded down $7.21 during trading hours on Thursday, reaching $159.29. The company had a trading volume of 24,354 shares, compared to its average volume of 730,843. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.66 and a quick ratio of 2.01. ResMed Inc. has a one year low of $108.85 and a one year high of $177.99. The firm has a market cap of $23.94 billion, a PE ratio of 46.88, a price-to-earnings-growth ratio of 2.59 and a beta of 0.50. The business has a fifty day simple moving average of $161.24 and a 200 day simple moving average of $158.06.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 30th. The medical equipment provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.29. The firm had revenue of $769.50 million for the quarter, compared to the consensus estimate of $717.70 million. ResMed had a net margin of 17.73% and a return on equity of 29.26%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. On average, research analysts forecast that ResMed Inc. will post 4.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, May 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Wednesday, May 13th. ResMed’s payout ratio is 42.86%.
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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