DNB Asset Management AS grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 10.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,927 shares of the medical equipment provider’s stock after acquiring an additional 1,882 shares during the period. DNB Asset Management AS’s holdings in ResMed were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc boosted its holdings in ResMed by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 14,567,805 shares of the medical equipment provider’s stock worth $1,680,251,000 after buying an additional 69,129 shares during the period. BlackRock Inc. boosted its holdings in shares of ResMed by 2.1% during the 3rd quarter. BlackRock Inc. now owns 11,180,412 shares of the medical equipment provider’s stock valued at $1,289,550,000 after purchasing an additional 226,612 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of ResMed by 0.3% during the 3rd quarter. Baillie Gifford & Co. now owns 4,841,478 shares of the medical equipment provider’s stock valued at $558,416,000 after purchasing an additional 14,627 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ResMed by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,632,771 shares of the medical equipment provider’s stock valued at $188,324,000 after purchasing an additional 11,927 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of ResMed by 323.1% during the 3rd quarter. Deutsche Bank AG now owns 1,367,475 shares of the medical equipment provider’s stock valued at $157,721,000 after purchasing an additional 1,044,295 shares during the last quarter. 68.60% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. Goldman Sachs Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. BMO Capital Markets upped their target price on shares of ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. Credit Suisse Group upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. Deutsche Bank cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, JPMorgan Chase & Co. cut shares of ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price on the stock. in a research report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $113.20.
In other ResMed news, insider James Hollingshead sold 5,893 shares of the firm’s stock in a transaction that occurred on Tuesday, November 27th. The shares were sold at an average price of $105.52, for a total value of $621,829.36. Following the completion of the sale, the insider now directly owns 75,121 shares in the company, valued at $7,926,767.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 6,651 shares of the firm’s stock in a transaction that occurred on Monday, January 14th. The shares were sold at an average price of $113.75, for a total transaction of $756,551.25. Following the completion of the sale, the chief executive officer now owns 292,933 shares of the company’s stock, valued at $33,321,128.75. The disclosure for this sale can be found here. Insiders sold a total of 55,589 shares of company stock worth $5,964,913 over the last three months. 1.24% of the stock is currently owned by corporate insiders.
ResMed stock traded up $0.40 during midday trading on Monday, reaching $97.21. The stock had a trading volume of 1,092,774 shares, compared to its average volume of 1,378,054. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.44 and a quick ratio of 1.76. ResMed Inc. has a 52-week low of $90.21 and a 52-week high of $118.50. The firm has a market capitalization of $13.87 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 2.57 and a beta of 0.54.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.05. ResMed had a net margin of 18.34% and a return on equity of 26.53%. The company had revenue of $651.10 million for the quarter, compared to analyst estimates of $676.77 million. During the same period in the prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts anticipate that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 7th will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Wednesday, February 6th. ResMed’s dividend payout ratio (DPR) is currently 41.93%.
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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