Welch & Forbes LLC lessened its stake in shares of ResMed Inc. (NYSE:RMD) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,717 shares of the medical equipment provider’s stock after selling 879 shares during the quarter. ResMed comprises 1.0% of Welch & Forbes LLC’s investment portfolio, making the stock its 29th biggest holding. Welch & Forbes LLC’s holdings in ResMed were worth $40,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in RMD. Invesco Ltd. boosted its position in shares of ResMed by 208.2% during the 2nd quarter. Invesco Ltd. now owns 1,955,124 shares of the medical equipment provider’s stock worth $238,584,000 after purchasing an additional 1,320,770 shares in the last quarter. Nuveen Asset Management LLC lifted its position in ResMed by 13,733.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 542,824 shares of the medical equipment provider’s stock valued at $66,241,000 after acquiring an additional 538,900 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in ResMed by 66.9% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 773,844 shares of the medical equipment provider’s stock valued at $94,433,000 after acquiring an additional 310,273 shares in the last quarter. Vanguard Group Inc. lifted its position in ResMed by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 15,327,232 shares of the medical equipment provider’s stock valued at $1,870,382,000 after acquiring an additional 212,459 shares in the last quarter. Finally, WCM Investment Management LLC lifted its position in ResMed by 2.2% in the 2nd quarter. WCM Investment Management LLC now owns 7,215,810 shares of the medical equipment provider’s stock valued at $880,545,000 after acquiring an additional 156,013 shares in the last quarter. 66.41% of the stock is currently owned by institutional investors.
NYSE RMD traded up $0.14 during trading hours on Friday, hitting $130.61. The company’s stock had a trading volume of 15,593 shares, compared to its average volume of 541,232. ResMed Inc. has a 52 week low of $90.64 and a 52 week high of $141.25. The company has a market capitalization of $18.71 billion, a PE ratio of 35.90, a price-to-earnings-growth ratio of 3.14 and a beta of 0.41. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $134.72 and its two-hundred day simple moving average is $120.72.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. ResMed had a net margin of 15.52% and a return on equity of 26.49%. The business had revenue of $705.00 million for the quarter, compared to analysts’ expectations of $701.56 million. During the same quarter last year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 3.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were given a $0.39 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $1.56 annualized dividend and a yield of 1.19%. ResMed’s dividend payout ratio (DPR) is presently 42.86%.
Several equities analysts recently weighed in on RMD shares. Goldman Sachs Group raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Monday, July 8th. UBS Group raised shares of ResMed from a “neutral” rating to a “buy” rating and raised their price target for the company from $122.00 to $140.00 in a research report on Monday, July 29th. Finally, ValuEngine cut shares of ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $121.50.
In other ResMed news, insider Robert Andrew Douglas sold 4,111 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $124.50, for a total value of $511,819.50. Following the completion of the sale, the insider now owns 48,721 shares in the company, valued at approximately $6,065,764.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard Mchale sold 12,306 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $127.06, for a total transaction of $1,563,600.36. Following the completion of the sale, the insider now owns 11,215 shares of the company’s stock, valued at approximately $1,424,977.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,826 shares of company stock valued at $8,799,312. Company insiders own 1.24% of the company’s stock.
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.
See Also: Fiduciary
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.