Harbor Capital Advisors Inc. boosted its holdings in shares of ResMed Inc. (NYSE:RMD – Free Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,107 shares of the medical equipment provider’s stock after purchasing an additional 80 shares during the period. Harbor Capital Advisors Inc.’s holdings in ResMed were worth $711,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. First Hawaiian Bank increased its holdings in ResMed by 13.2% during the 4th quarter. First Hawaiian Bank now owns 15,848 shares of the medical equipment provider’s stock valued at $3,624,000 after purchasing an additional 1,852 shares during the period. Birch Capital Management LLC increased its holdings in ResMed by 21.4% during the 4th quarter. Birch Capital Management LLC now owns 35,543 shares of the medical equipment provider’s stock valued at $8,128,000 after purchasing an additional 6,268 shares during the period. Nordea Investment Management AB grew its holdings in shares of ResMed by 92.7% during the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after acquiring an additional 215,561 shares during the period. GAMMA Investing LLC grew its holdings in shares of ResMed by 21.8% during the 4th quarter. GAMMA Investing LLC now owns 3,046 shares of the medical equipment provider’s stock worth $697,000 after acquiring an additional 545 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of ResMed by 66.3% during the 4th quarter. Versant Capital Management Inc now owns 459 shares of the medical equipment provider’s stock worth $105,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.
Insider Transactions at ResMed
In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the sale, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Justin Leong sold 6,160 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,099 shares of company stock worth $2,719,385 in the last three months. Corporate insiders own 0.71% of the company’s stock.
ResMed Price Performance
ResMed (NYSE:RMD – Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, equities analysts predict that ResMed Inc. will post 9.34 earnings per share for the current year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a dividend yield of 0.92%. ResMed’s dividend payout ratio (DPR) is 28.08%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on RMD shares. KeyCorp upped their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America upped their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus started coverage on ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $233.09.
Check Out Our Latest Research Report on RMD
ResMed Profile
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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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