Meiji Yasuda Asset Management Co Ltd. purchased a new stake in ResMed Inc. (NYSE:RMD) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 1,827 shares of the medical equipment provider’s stock, valued at approximately $211,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CIBC World Markets Inc. boosted its holdings in ResMed by 8.2% during the 3rd quarter. CIBC World Markets Inc. now owns 6,528 shares of the medical equipment provider’s stock worth $753,000 after acquiring an additional 493 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in ResMed by 10.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,399 shares of the medical equipment provider’s stock worth $622,000 after acquiring an additional 521 shares during the last quarter. Prudential Financial Inc. boosted its holdings in ResMed by 0.3% during the 3rd quarter. Prudential Financial Inc. now owns 168,112 shares of the medical equipment provider’s stock worth $19,389,000 after acquiring an additional 540 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in ResMed by 144.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,018 shares of the medical equipment provider’s stock worth $117,000 after acquiring an additional 602 shares during the last quarter. Finally, Intrust Bank NA boosted its holdings in ResMed by 8.6% during the 2nd quarter. Intrust Bank NA now owns 7,871 shares of the medical equipment provider’s stock worth $815,000 after acquiring an additional 626 shares during the last quarter. 65.61% of the stock is owned by institutional investors and hedge funds.
A number of research firms have issued reports on RMD. BMO Capital Markets lifted their price objective on shares of ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a report on Friday, October 26th. Credit Suisse Group raised shares of ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $114.50.
In other news, CEO Michael J. Farrell sold 3,300 shares of ResMed stock in a transaction on Friday, November 16th. The stock was sold at an average price of $104.49, for a total transaction of $344,817.00. Following the sale, the chief executive officer now directly owns 240,487 shares in the company, valued at approximately $25,128,486.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Hollingshead sold 5,893 shares of ResMed stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $105.52, for a total value of $621,829.36. Following the sale, the insider now owns 75,121 shares in the company, valued at $7,926,767.92. The disclosure for this sale can be found here. Insiders have sold a total of 25,920 shares of company stock worth $2,757,924 over the last quarter. Company insiders own 1.24% of the company’s stock.
RMD opened at $111.79 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 0.27. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 2.82 and a beta of 0.97. ResMed Inc. has a 1 year low of $82.81 and a 1 year high of $116.64.
ResMed (NYSE:RMD) last released its earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The company had revenue of $588.28 million for the quarter, compared to analysts’ expectations of $576.66 million. ResMed had a return on equity of 26.29% and a net margin of 13.94%. On average, analysts expect that ResMed Inc. will post 3.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend is Wednesday, November 7th. ResMed’s payout ratio is 41.93%.
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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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