Robeco Institutional Asset Management B.V. increased its holdings in ResMed Inc. (NYSE:RMD) by 91.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,466 shares of the medical equipment provider’s stock after buying an additional 3,564 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in ResMed were worth $1,157,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RMD. Commerzbank Aktiengesellschaft FI purchased a new position in ResMed in the third quarter worth about $323,000. Stephens Inc. AR boosted its position in ResMed by 4.0% in the third quarter. Stephens Inc. AR now owns 12,208 shares of the medical equipment provider’s stock worth $1,649,000 after purchasing an additional 468 shares during the last quarter. Strs Ohio boosted its position in ResMed by 5.3% in the third quarter. Strs Ohio now owns 5,158 shares of the medical equipment provider’s stock worth $696,000 after purchasing an additional 259 shares during the last quarter. Virginia Retirement Systems ET AL boosted its position in ResMed by 86.1% in the third quarter. Virginia Retirement Systems ET AL now owns 28,100 shares of the medical equipment provider’s stock worth $3,797,000 after purchasing an additional 13,000 shares during the last quarter. Finally, World Asset Management Inc boosted its position in ResMed by 1.0% in the third quarter. World Asset Management Inc now owns 10,117 shares of the medical equipment provider’s stock worth $1,367,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 65.85% of the company’s stock.
A number of research firms have recently weighed in on RMD. Oppenheimer began coverage on ResMed in a research report on Thursday, January 9th. They set a “hold” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, October 25th. UBS Group cut ResMed from a “buy” rating to a “neutral” rating and set a $174.00 price objective on the stock. in a research report on Friday, January 31st. CLSA began coverage on ResMed in a research report on Monday, February 3rd. They set an “underperform” rating on the stock. Finally, Morgan Stanley cut ResMed from an “overweight” rating to an “equal weight” rating and set a $165.00 price objective on the stock. in a research report on Tuesday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $141.25.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.20. ResMed had a return on equity of 27.25% and a net margin of 16.34%. The company had revenue of $736.20 million for the quarter, compared to the consensus estimate of $723.08 million. During the same quarter last year, the company earned $1.00 EPS. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, equities analysts anticipate that ResMed Inc. will post 4.29 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, February 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Wednesday, February 12th. ResMed’s payout ratio is 42.86%.
In other ResMed news, COO Robert Andrew Douglas sold 1,133 shares of ResMed stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $176.14, for a total value of $199,566.62. Following the sale, the chief operating officer now owns 24,544 shares of the company’s stock, valued at approximately $4,323,180.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 6,651 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $157.43, for a total value of $1,047,066.93. Following the transaction, the chief executive officer now directly owns 361,351 shares in the company, valued at approximately $56,887,487.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,906 shares of company stock worth $6,222,263. Corporate insiders own 1.22% of the company’s stock.
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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