Blue Trust Inc. increased its holdings in ResMed Inc. (NYSE:RMD – Free Report) by 43.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394 shares of the medical equipment provider’s stock after purchasing an additional 420 shares during the period. Blue Trust Inc.’s holdings in ResMed were worth $340,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Geode Capital Management LLC raised its position in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider’s stock valued at $939,114,000 after buying an additional 380,383 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in ResMed by 726.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 283,801 shares of the medical equipment provider’s stock valued at $69,281,000 after acquiring an additional 249,454 shares during the last quarter. Nordea Investment Management AB lifted its stake in ResMed by 92.7% in the 4th quarter. Nordea Investment Management AB now owns 448,151 shares of the medical equipment provider’s stock worth $103,214,000 after purchasing an additional 215,561 shares in the last quarter. State Street Corp lifted its stake in ResMed by 1.9% in the 3rd quarter. State Street Corp now owns 6,261,633 shares of the medical equipment provider’s stock worth $1,528,590,000 after purchasing an additional 116,918 shares in the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of ResMed by 738.4% during the 3rd quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock valued at $25,617,000 after purchasing an additional 92,422 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. KeyCorp boosted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. increased their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Robert W. Baird lifted their price objective on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $244.73.
Insiders Place Their Bets
In other ResMed news, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the transaction, the insider now directly owns 21,718 shares in the company, valued at $5,279,428.62. This represents a 22.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $245.65, for a total transaction of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. This represents a 2.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,030 shares of company stock worth $2,702,687 over the last quarter. Company insiders own 0.71% of the company’s stock.
ResMed Price Performance
RMD stock opened at $236.66 on Friday. The stock has a market cap of $34.74 billion, a PE ratio of 31.35, a P/E/G ratio of 1.83 and a beta of 0.70. ResMed Inc. has a 12 month low of $170.56 and a 12 month high of $263.05. The company has a 50-day moving average price of $240.17 and a 200 day moving average price of $236.21. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.
ResMed (NYSE:RMD – Get Free Report) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. Equities research analysts anticipate that ResMed Inc. will post 9.35 earnings per share for the current year.
ResMed Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.
About ResMed
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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