Denali Advisors LLC raised its position in shares of ResMed Inc. (NYSE:RMD) by 1,279.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 125,500 shares of the medical equipment provider’s stock after purchasing an additional 116,400 shares during the period. ResMed makes up approximately 2.1% of Denali Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Denali Advisors LLC’s holdings in ResMed were worth $14,475,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Millennium Management LLC raised its holdings in ResMed by 2,526.7% during the 1st quarter. Millennium Management LLC now owns 769,536 shares of the medical equipment provider’s stock valued at $75,776,000 after buying an additional 740,239 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its holdings in ResMed by 1,082.0% during the 2nd 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 buying an additional 407,590 shares during the period. Morgan Stanley raised its holdings in ResMed by 30.2% during the 2nd quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock valued at $100,135,000 after buying an additional 223,963 shares during the period. Canada Pension Plan Investment Board raised its holdings in ResMed by 209.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 260,806 shares of the medical equipment provider’s stock valued at $27,014,000 after buying an additional 176,589 shares during the period. Finally, Standard Life Aberdeen plc raised its holdings in ResMed by 499.2% during the 2nd quarter. Standard Life Aberdeen plc now owns 151,243 shares of the medical equipment provider’s stock valued at $15,667,000 after buying an additional 126,002 shares during the period. 63.81% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on RMD. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Tuesday, July 10th. Goldman Sachs Group began coverage on ResMed in a report on Sunday, July 1st. They set a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $77.33.
Shares of ResMed stock opened at $107.87 on Tuesday. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 30.56, a price-to-earnings-growth ratio of 2.94 and a beta of 0.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.56 and a current ratio of 2.08. ResMed Inc. has a 52 week low of $75.62 and a 52 week high of $116.64.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported $0.95 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. The company had revenue of $623.63 million for the quarter, compared to the consensus estimate of $622.78 million. ResMed had a return on equity of 24.74% and a net margin of 13.49%. ResMed’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 EPS. On average, equities analysts expect that ResMed Inc. will post 3.71 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 16th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Wednesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.35. ResMed’s dividend payout ratio is 41.93%.
In other ResMed news, insider James Hollingshead sold 600 shares of the company’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $105.93, for a total value of $63,558.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $109.01, for a total value of $218,020.00. Following the completion of the transaction, the chief financial officer now directly owns 65,072 shares in the company, valued at approximately $7,093,498.72. The disclosure for this sale can be found here. Insiders sold a total of 13,420 shares of company stock worth $1,480,182 in the last ninety days. 1.77% of the stock is currently owned by corporate insiders.
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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