Livforsakringsbolaget Skandia Omsesidigt reduced its stake in shares of ResMed Inc. (NYSE:RMD) by 40.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,303 shares of the medical equipment provider’s stock after selling 900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in ResMed were worth $150,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of RMD. Morgan Stanley grew its position in shares of ResMed by 30.2% in the second quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock valued at $100,135,000 after purchasing an additional 223,963 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of ResMed by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 813,087 shares of the medical equipment provider’s stock valued at $84,220,000 after purchasing an additional 87,893 shares during the last quarter. Swiss National Bank grew its position in shares of ResMed by 3.9% in the second quarter. Swiss National Bank now owns 472,000 shares of the medical equipment provider’s stock valued at $48,890,000 after purchasing an additional 17,600 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of ResMed by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 452,439 shares of the medical equipment provider’s stock valued at $46,864,000 after purchasing an additional 29,375 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. grew its position in shares of ResMed by 1,082.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 445,260 shares of the medical equipment provider’s stock valued at $46,120,000 after purchasing an additional 407,590 shares during the last quarter. Institutional investors own 63.89% of the company’s stock.
RMD stock opened at $105.71 on Friday. The company has a market capitalization of $15.06 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 2.70 and a beta of 0.97. ResMed Inc. has a 12 month low of $81.52 and a 12 month high of $116.64. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 0.27.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.01. The business had revenue of $588.28 million for the quarter, compared to the consensus estimate of $576.66 million. ResMed had a net margin of 13.94% and a return on equity of 26.29%. Equities analysts anticipate that ResMed Inc. will post 3.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 8th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, November 7th. ResMed’s payout ratio is 41.93%.
Several analysts have recently commented on the stock. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research report on Tuesday, July 10th. BMO Capital Markets increased their price target 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. Finally, Credit Suisse Group upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $114.50.
In related news, insider David Pendarvis sold 2,810 shares of the company’s stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $113.95, for a total transaction of $320,199.50. Following the transaction, the insider now owns 107,061 shares of the company’s stock, valued at $12,199,600.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $107.45, for a total transaction of $214,900.00. The disclosure for this sale can be found here. Insiders have sold 10,610 shares of company stock worth $1,170,060 in the last three months. Insiders own 1.24% of the company’s stock.
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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