Rhumbline Advisers decreased its stake in ResMed Inc. (NYSE:RMD) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 355,610 shares of the medical equipment provider’s stock after selling 5,310 shares during the quarter. Rhumbline Advisers owned 0.25% of ResMed worth $30,117,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC acquired a new position in ResMed in the third quarter valued at about $113,000. Calton & Associates Inc. acquired a new position in ResMed in the fourth quarter valued at about $115,000. Toronto Dominion Bank lifted its stake in ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after buying an additional 197 shares during the period. Conning Inc. acquired a new position in ResMed in the fourth quarter valued at about $203,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in ResMed in the fourth quarter valued at about $206,000. 60.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ResMed Inc. (RMD) opened at $92.83 on Wednesday. The company has a market capitalization of $13,407.99, a PE ratio of 29.88 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 results on Monday, January 22nd. The medical equipment provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.22. The company had revenue of $601.27 million for the quarter, compared to analyst estimates of $583.77 million. ResMed had a return on equity of 22.75% and a net margin of 12.98%. ResMed’s revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 earnings per share. equities research analysts predict that ResMed Inc. will post 3.34 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, February 7th. ResMed’s dividend payout ratio is currently 70.00%.
Several equities analysts have weighed in on the company. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research note on Tuesday. Needham & Company LLC raised ResMed from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 23rd. Northland Securities raised ResMed from an “under perform” rating to a “market perform” rating in a research note on Tuesday, January 23rd. Barclays increased their target price on ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a research note on Friday, October 27th. Finally, BMO Capital Markets increased their target price on ResMed to $90.00 and gave the company a “market perform” rating in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. ResMed currently has a consensus rating of “Hold” and a consensus target price of $74.83.
In other news, CFO Brett Sandercock sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $93.42, for a total transaction of $186,840.00. Following the sale, the chief financial officer now owns 75,072 shares of the company’s stock, valued at $7,013,226.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ronald R. Taylor sold 4,885 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $99.71, for a total value of $487,083.35. Following the transaction, the director now owns 21,751 shares of the company’s stock, valued at $2,168,792.21. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,783 shares of company stock worth $4,420,848. 1.77% of the stock is currently owned by insiders.
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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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