Allspring Global Investments Holdings LLC Has $3.69 Million Stock Position in ResMed Inc. (NYSE:RMD)

Allspring Global Investments Holdings LLC lifted its stake in ResMed Inc. (NYSE:RMDGet Rating) by 31.5% in the third quarter, HoldingsChannel reports. The firm owned 16,886 shares of the medical equipment provider’s stock after purchasing an additional 4,045 shares during the period. Allspring Global Investments Holdings LLC’s holdings in ResMed were worth $3,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC lifted its stake in ResMed by 2,000.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 147 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 140 shares in the last quarter. Coston McIsaac & Partners purchased a new stake in ResMed in the 2nd quarter worth about $41,000. Twin Lakes Capital Management LLC purchased a new stake in ResMed in the 3rd quarter worth about $44,000. WFA of San Diego LLC purchased a new stake in ResMed in the 2nd quarter worth about $52,000. Finally, Trust Co. of Vermont purchased a new stake in ResMed in the 2nd quarter worth about $59,000. Institutional investors and hedge funds own 64.73% of the company’s stock.

Analysts Set New Price Targets

RMD has been the subject of several research analyst reports. KeyCorp increased their price objective on ResMed from $276.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Bank of America raised ResMed from a “neutral” rating to a “buy” rating and raised their price target for the stock from $245.00 to $260.00 in a research note on Thursday, October 20th. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Friday, October 28th. Finally, JPMorgan Chase & Co. upgraded ResMed from a “neutral” rating to an “overweight” rating and set a $245.00 price target on the stock in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $263.43.

ResMed Price Performance

Shares of ResMed stock opened at $225.38 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.94 and a quick ratio of 1.69. ResMed Inc. has a fifty-two week low of $189.40 and a fifty-two week high of $262.38. The firm has a fifty day moving average price of $217.75 and a two-hundred day moving average price of $222.65. The company has a market cap of $33.01 billion, a PE ratio of 42.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.50.

ResMed (NYSE:RMDGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The medical equipment provider reported $1.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.51. ResMed had a net margin of 21.70% and a return on equity of 25.75%. The firm had revenue of $950.30 million during the quarter, compared to the consensus estimate of $946.07 million. During the same period in the prior year, the firm earned $1.51 EPS. The business’s revenue was up 5.1% on a year-over-year basis. Analysts expect that ResMed Inc. will post 6.45 EPS for the current year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 10th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Wednesday, November 9th. ResMed’s dividend payout ratio is 32.90%.

Insider Activity

In other news, CEO Michael J. Farrell sold 4,880 shares of the stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $220.83, for a total value of $1,077,650.40. Following the completion of the transaction, the chief executive officer now owns 422,654 shares in the company, valued at approximately $93,334,682.82. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO Robert Andrew Douglas sold 11,280 shares of the stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $222.07, for a total transaction of $2,504,949.60. Following the completion of the sale, the chief operating officer now owns 40,186 shares in the company, valued at approximately $8,924,105.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 4,880 shares of the stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $220.83, for a total transaction of $1,077,650.40. Following the sale, the chief executive officer now owns 422,654 shares of the company’s stock, valued at approximately $93,334,682.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,051 shares of company stock worth $10,835,359. 1.39% of the stock is currently owned by corporate insiders.

ResMed Profile

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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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