ETF Managers Group LLC raised its position in shares of ResMed Inc. (NYSE:RMD) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,323 shares of the medical equipment provider’s stock after acquiring an additional 180 shares during the quarter. ETF Managers Group LLC’s holdings in ResMed were worth $151,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Retirement Systems of Alabama boosted its position in shares of ResMed by 312.5% in the 4th quarter. Retirement Systems of Alabama now owns 271,524 shares of the medical equipment provider’s stock worth $30,918,000 after purchasing an additional 205,700 shares in the last quarter. Pillar Pacific Capital Management LLC boosted its position in shares of ResMed by 1.6% in the 3rd quarter. Pillar Pacific Capital Management LLC now owns 46,546 shares of the medical equipment provider’s stock worth $5,368,000 after purchasing an additional 744 shares in the last quarter. Oakbrook Investments LLC bought a new stake in shares of ResMed in the 4th quarter worth approximately $851,000. DNB Asset Management AS boosted its position in shares of ResMed by 17.9% in the 3rd quarter. DNB Asset Management AS now owns 18,045 shares of the medical equipment provider’s stock worth $2,081,000 after purchasing an additional 2,745 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in shares of ResMed by 10.3% in the 3rd quarter. Bank of Montreal Can now owns 145,834 shares of the medical equipment provider’s stock worth $16,821,000 after purchasing an additional 13,568 shares in the last quarter. 64.87% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. BMO Capital Markets boosted their price target on ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research report on Friday, October 26th. JPMorgan Chase & Co. cut ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price target on the stock. in a research report on Friday, January 25th. Deutsche Bank cut ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. Finally, Goldman Sachs Group cut ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. ResMed presently has an average rating of “Hold” and an average target price of $113.20.
ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $651.10 million for the quarter, compared to analysts’ expectations of $676.77 million. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.00 EPS. As a group, analysts forecast that ResMed Inc. will post 3.55 EPS for the current year.
The firm 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. The ex-dividend date of this dividend is Wednesday, February 6th. This represents a $1.48 annualized dividend and a yield of 1.53%. ResMed’s dividend payout ratio (DPR) is presently 41.93%.
In other ResMed news, insider James Hollingshead sold 5,893 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $105.52, for a total transaction of $621,829.36. Following the completion of the sale, the insider now directly owns 75,121 shares in the company, valued at approximately $7,926,767.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Robert Andrew Douglas sold 3,307 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $101.44, for a total transaction of $335,462.08. Following the sale, the chief operating officer now owns 59,112 shares of the company’s stock, valued at $5,996,321.28. 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 ninety days. 1.24% of the stock is currently owned by insiders.
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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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