Boston Private Wealth LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 53.3% during the third quarter, Holdings Channel reports. The institutional investor owned 8,024 shares of the company’s stock after buying an additional 2,790 shares during the period. Boston Private Wealth LLC’s holdings in ResMed were worth $520,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in RMD. Jane Street Group LLC increased its stake in ResMed by 906.8% in the third quarter. Jane Street Group LLC now owns 113,738 shares of the company’s stock valued at $7,369,000 after buying an additional 102,441 shares during the last quarter. Panagora Asset Management Inc. increased its stake in ResMed by 11.2% in the third quarter. Panagora Asset Management Inc. now owns 1,197,693 shares of the company’s stock valued at $77,599,000 after buying an additional 121,020 shares during the last quarter. Westover Capital Advisors LLC increased its stake in ResMed by 4.0% in the third quarter. Westover Capital Advisors LLC now owns 16,048 shares of the company’s stock valued at $1,040,000 after buying an additional 616 shares during the last quarter. Capital World Investors increased its stake in ResMed by 7.3% in the third quarter. Capital World Investors now owns 8,497,000 shares of the company’s stock valued at $550,521,000 after buying an additional 580,766 shares during the last quarter. Finally, Gotham Asset Management LLC increased its stake in ResMed by 12.7% in the third quarter. Gotham Asset Management LLC now owns 296,383 shares of the company’s stock valued at $19,203,000 after buying an additional 33,425 shares during the last quarter. Institutional investors own 62.82% of the company’s stock.
ResMed Inc. (NYSE:RMD) traded up 0.62% on Wednesday, reaching $69.36. The company’s stock had a trading volume of 1,006,149 shares. The firm has a 50-day moving average price of $64.88 and a 200 day moving average price of $64.17. ResMed Inc. has a 52-week low of $55.13 and a 52-week high of $70.90. The firm has a market capitalization of $9.83 billion, a P/E ratio of 30.03 and a beta of 0.82.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Monday, January 23rd. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. ResMed had a return on equity of 22.82% and a net margin of 16.48%. The business earned $530.40 million during the quarter, compared to the consensus estimate of $518.60 million. During the same period in the previous year, the business earned $0.69 EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts anticipate that ResMed Inc. will post $2.82 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 16th. Investors of record on Thursday, February 9th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.32 dividend on an annualized basis and a yield of 1.90%. ResMed’s dividend payout ratio is currently 57.39%.
Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a report on Tuesday, January 24th. BMO Capital Markets reissued a “hold” rating and issued a $61.00 price objective on shares of ResMed in a report on Tuesday, January 24th. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a report on Wednesday, January 25th. Jefferies Group LLC decreased their price objective on ResMed to $56.00 in a report on Wednesday, October 26th. Finally, J P Morgan Chase & Co raised ResMed from a “neutral” rating to an “overweight” rating and set a $72.00 price objective for the company in a report on Tuesday, January 24th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.33.
In other ResMed news, Director Peter C. Farrell sold 20,000 shares of the business’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $68.32, for a total transaction of $1,366,400.00. Following the completion of the transaction, the director now owns 321,557 shares in the company, valued at approximately $21,968,774.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David Pendarvis sold 6,365 shares of the business’s stock in a transaction on Monday, December 5th. The stock was sold at an average price of $60.00, for a total value of $381,900.00. Following the transaction, the insider now owns 84,261 shares of the company’s stock, valued at approximately $5,055,660. The disclosure for this sale can be found here. Insiders have sold a total of 86,179 shares of company stock valued at $5,465,978 in the last 90 days. Insiders own 1.97% of the company’s stock.
ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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