Westpac Banking Corp continued to hold its position in ResMed Inc. (NYSE:RMD) during the third quarter, Holdings Channel reports. The institutional investor owned 8,472 shares of the company’s stock at the end of the third quarter. Westpac Banking Corp’s holdings in ResMed were worth $549,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in ResMed by 10.6% in the second quarter. Vanguard Group Inc. now owns 11,679,325 shares of the company’s stock valued at $738,483,000 after buying an additional 1,114,598 shares in the last quarter. Capital World Investors boosted its position in ResMed by 13.6% in the second quarter. Capital World Investors now owns 7,916,234 shares of the company’s stock valued at $500,543,000 after buying an additional 946,234 shares in the last quarter. BlackRock Fund Advisors boosted its position in ResMed by 3.8% in the third quarter. BlackRock Fund Advisors now owns 6,135,247 shares of the company’s stock valued at $397,503,000 after buying an additional 227,199 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in ResMed by 2.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,364,339 shares of the company’s stock valued at $275,957,000 after buying an additional 93,967 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in ResMed by 63.2% in the second quarter. Panagora Asset Management Inc. now owns 1,076,673 shares of the company’s stock valued at $68,078,000 after buying an additional 417,136 shares in the last quarter. 62.94% of the stock is currently owned by institutional investors.
Shares of ResMed Inc. (NYSE:RMD) traded down 0.62% during midday trading on Thursday, reaching $62.90. 601,171 shares of the company were exchanged. The company has a market capitalization of $8.87 billion, a P/E ratio of 25.67 and a beta of 0.88. The stock has a 50-day moving average price of $62.16 and a 200 day moving average price of $63.88. ResMed Inc. has a 52-week low of $53.28 and a 52-week high of $70.90.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by $0.02. ResMed had a net margin of 17.87% and a return on equity of 23.10%. The business earned $465.45 million during the quarter, compared to analyst estimates of $475.05 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. The company’s quarterly revenue was up 13.1% on a year-over-year basis. Equities research analysts expect that ResMed Inc. will post $2.73 EPS for the current fiscal year.
Several research analysts have issued reports on RMD shares. Zacks Investment Research cut ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, December 28th. Jefferies Group reiterated an “underperform” rating and set a $58.00 price objective on shares of ResMed in a research report on Saturday, October 22nd. JPMorgan Chase & Co. initiated coverage on shares of ResMed in a research report on Tuesday, October 4th. They set a “neutral” rating and a $64.00 price objective on the stock. Finally, Bank of America Corp. upgraded shares of ResMed from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $89.00 to $72.00 in a research report on Thursday, September 29th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. ResMed currently has an average rating of “Hold” and a consensus price target of $59.50.
In other ResMed news, insider David Pendarvis sold 6,365 shares of the stock in a transaction on Monday, December 5th. The shares were sold at an average price of $60.00, for a total value of $381,900.00. Following the sale, the insider now directly owns 84,261 shares in the company, valued at $5,055,660. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction on Friday, November 4th. The stock was sold at an average price of $57.28, for a total transaction of $1,145,600.00. Following the completion of the sale, the director now owns 367,978 shares in the company, valued at $21,077,779.84. The disclosure for this sale can be found here. Insiders sold 78,763 shares of company stock worth $4,709,859 over the last 90 days. 1.97% of the stock is currently owned by company insiders.
ResMed Company Profile
ResMed Inc is a holding company. The Company, through its subsidiaries, designs, manufactures and markets equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. The Company develops a range of products for sleep-disordered breathing and other respiratory disorders, including airdevices, informatics solutions, diagnostic products, mask systems, headgear and other accessories.
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