Congress Asset Management Co. MA grew its position in shares of ResMed Inc. (NYSE:RMD) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,078,645 shares of the medical equipment provider’s stock after purchasing an additional 23,714 shares during the period. ResMed makes up about 1.3% of Congress Asset Management Co. MA’s investment portfolio, making the stock its 13th largest position. Congress Asset Management Co. MA owned approximately 0.75% of ResMed worth $91,350,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in RMD. Copeland Capital Management LLC lifted its stake in ResMed by 1.9% in the fourth quarter. Copeland Capital Management LLC now owns 141,808 shares of the medical equipment provider’s stock valued at $12,010,000 after buying an additional 2,577 shares during the last quarter. Conning Inc. bought a new stake in shares of ResMed during the fourth quarter valued at about $203,000. BTIM Corp. raised its stake in shares of ResMed by 4.5% during the fourth quarter. BTIM Corp. now owns 123,161 shares of the medical equipment provider’s stock valued at $10,430,000 after purchasing an additional 5,308 shares in the last quarter. Advisor Partners LLC bought a new stake in ResMed in the fourth quarter worth about $253,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in ResMed in the fourth quarter worth about $591,000. 61.47% of the stock is owned by institutional investors and hedge funds.
In other news, insider James Hollingshead sold 7,019 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $84.16, for a total transaction of $590,719.04. Following the transaction, the insider now owns 66,409 shares of the company’s stock, valued at $5,588,981.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $85.36, for a total value of $106,700.00. Following the completion of the transaction, the chief financial officer now directly owns 79,572 shares in the company, valued at approximately $6,792,265.92. The disclosure for this sale can be found here. Insiders have sold 49,802 shares of company stock worth $4,824,727 in the last 90 days. Company insiders own 1.77% of the company’s stock.
ResMed Inc. (RMD) traded up $1.77 on Wednesday, hitting $93.29. The stock had a trading volume of 304,798 shares, compared to its average volume of 845,298. The company has a market capitalization of $13,080.00, a PE ratio of 32.30 and a beta of 0.92. ResMed Inc. has a 1-year low of $67.04 and a 1-year high of $104.78.
ResMed (NYSE:RMD) last released its quarterly earnings data on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.22. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The business had revenue of $601.27 million for the quarter, compared to analysts’ expectations of $583.77 million. During the same period in the previous year, the business posted $0.73 earnings per share. ResMed’s quarterly revenue was up 13.4% on a year-over-year basis. sell-side analysts forecast that ResMed Inc. will post 3.34 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, February 7th. ResMed’s payout ratio is presently 48.78%.
Several equities research analysts have commented on RMD shares. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research note on Friday, October 27th. Zacks Investment Research cut ResMed from a “buy” rating to a “sell” rating in a research note on Tuesday, October 24th. BMO Capital Markets boosted their price target on ResMed from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. boosted their target price on ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Finally, Barclays boosted their target price on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $76.00.
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ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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