United Services Automobile Association trimmed its stake in ResMed Inc. (NYSE:RMD) by 48.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,986 shares of the medical equipment provider’s stock after selling 43,776 shares during the quarter. United Services Automobile Association’s holdings in ResMed were worth $5,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of RMD. Vanguard Group Inc grew its stake in shares of ResMed by 0.5% in the third quarter. Vanguard Group Inc now owns 14,567,805 shares of the medical equipment provider’s stock worth $1,680,251,000 after acquiring an additional 69,129 shares during the last quarter. BlackRock Inc. grew its position in shares of ResMed by 5.2% during the 4th quarter. BlackRock Inc. now owns 11,764,243 shares of the medical equipment provider’s stock worth $1,339,597,000 after buying an additional 583,831 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of ResMed by 15,868.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock worth $46,000 after buying an additional 5,241,994 shares during the period. Baillie Gifford & Co. grew its position 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 worth $558,416,000 after buying an additional 14,627 shares during the period. Finally, WCM Investment Management LLC acquired a new position in shares of ResMed during the 4th quarter worth about $492,415,000. 67.21% of the stock is owned by institutional investors and hedge funds.
In other ResMed news, insider Robert Andrew Douglas sold 4,298 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $100.90, for a total transaction of $433,668.20. Following the completion of the transaction, the insider now owns 48,604 shares of the company’s stock, valued at approximately $4,904,143.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James Hollingshead sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $112.13, for a total value of $179,408.00. Following the transaction, the insider now directly owns 84,489 shares of the company’s stock, valued at approximately $9,473,751.57. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,205 shares of company stock valued at $7,980,737. Insiders own 1.24% of the company’s stock.
Shares of RMD traded up $2.07 on Wednesday, hitting $99.97. The company’s stock had a trading volume of 219,627 shares, compared to its average volume of 1,065,118. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.76 and a current ratio of 2.44. ResMed Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $118.50. The firm has a market capitalization of $13.96 billion, a PE ratio of 28.32, a P/E/G ratio of 2.59 and a beta of 0.58.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The business had revenue of $651.10 million during the quarter, compared to analyst estimates of $676.77 million. During the same period in the previous year, the firm earned $1.00 EPS. ResMed’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that ResMed Inc. will post 3.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 7th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date was Wednesday, February 6th. ResMed’s dividend payout ratio (DPR) is currently 41.93%.
Several equities analysts have recently issued reports on RMD shares. JPMorgan Chase & Co. lowered ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price for the company. in a research report on Friday, January 25th. Deutsche Bank lowered ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. BMO Capital Markets upgraded ResMed from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $109.00 to $127.00 in a research report on Monday, December 10th. Finally, Goldman Sachs Group lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $113.20.
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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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