Los Angeles Capital Management & Equity Research Inc. boosted its position in ResMed Inc. (NYSE:RMD) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 454,755 shares of the medical equipment provider’s stock after purchasing an additional 9,495 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.32% of ResMed worth $52,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMD. Morgan Stanley lifted its stake in ResMed by 30.2% in the 2nd quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock worth $100,135,000 after purchasing an additional 223,963 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in ResMed by 209.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 260,806 shares of the medical equipment provider’s stock worth $27,014,000 after purchasing an additional 176,589 shares in the last quarter. NN Investment Partners Holdings N.V. lifted its stake in ResMed by 510.1% in the 3rd quarter. NN Investment Partners Holdings N.V. now owns 174,686 shares of the medical equipment provider’s stock worth $20,149,000 after purchasing an additional 146,054 shares in the last quarter. Standard Life Aberdeen plc lifted its stake in ResMed by 499.2% in the 2nd quarter. Standard Life Aberdeen plc now owns 151,243 shares of the medical equipment provider’s stock worth $15,667,000 after purchasing an additional 126,002 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in ResMed by 65.6% in the 2nd quarter. Renaissance Technologies LLC now owns 300,251 shares of the medical equipment provider’s stock worth $31,141,000 after purchasing an additional 118,928 shares in the last quarter. Institutional investors and hedge funds own 64.10% of the company’s stock.
NYSE RMD opened at $105.00 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.91 and a current ratio of 2.58. The company has a market capitalization of $15.06 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.70 and a beta of 0.97. ResMed Inc. has a 1 year low of $81.52 and a 1 year high of $116.64.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The firm had revenue of $588.28 million for the quarter, compared to analysts’ expectations of $576.66 million. ResMed had a net margin of 13.94% and a return on equity of 26.29%. As a group, research analysts forecast that ResMed Inc. will post 3.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend is Wednesday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 41.93%.
Several analysts have issued reports on RMD shares. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Tuesday, July 10th. BMO Capital Markets increased their target price on shares of ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research note on Friday, October 26th. Finally, Credit Suisse Group upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. ResMed presently has an average rating of “Hold” and an average price target of $114.50.
In other news, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $111.59, for a total transaction of $66,954.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David Pendarvis sold 2,810 shares of the firm’s stock in a transaction 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 sale, the insider now owns 107,061 shares in the company, valued at approximately $12,199,600.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,610 shares of company stock worth $1,170,060. Corporate insiders own 1.24% of the company’s stock.
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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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