State of Alaska Department of Revenue cut its position in shares of ResMed Inc. (NYSE:RMD) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,900 shares of the medical equipment provider’s stock after selling 369 shares during the period. State of Alaska Department of Revenue’s holdings in ResMed were worth $3,523,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in RMD. Retirement Systems of Alabama grew its stake in ResMed by 312.5% during the 4th quarter. Retirement Systems of Alabama now owns 271,524 shares of the medical equipment provider’s stock worth $30,918,000 after buying an additional 205,700 shares during the last quarter. Hsbc Holdings PLC grew its stake in ResMed by 28.4% during the 4th quarter. Hsbc Holdings PLC now owns 129,061 shares of the medical equipment provider’s stock worth $14,661,000 after buying an additional 28,515 shares during the last quarter. Oakbrook Investments LLC purchased a new position in ResMed during the 4th quarter worth $851,000. Chicago Equity Partners LLC grew its stake in ResMed by 503.8% during the 4th quarter. Chicago Equity Partners LLC now owns 58,930 shares of the medical equipment provider’s stock worth $6,710,000 after buying an additional 49,170 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in ResMed by 127.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,821 shares of the medical equipment provider’s stock worth $9,772,000 after buying an additional 48,067 shares during the last quarter. 68.12% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on RMD. Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a research note on Friday, March 29th. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. Deutsche Bank upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, BMO Capital Markets dropped their target price on ResMed to $120.00 and set a “positive” rating on the stock in a research note on Monday, January 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. ResMed presently has an average rating of “Hold” and an average target price of $111.87.
ResMed stock opened at $102.28 on Monday. The company has a current ratio of 2.44, a quick ratio of 1.76 and a debt-to-equity ratio of 0.61. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.68 and a beta of 0.58. ResMed Inc. has a fifty-two week low of $90.64 and a fifty-two week high of $118.50.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. The business had revenue of $651.10 million for the quarter, compared to the consensus estimate of $676.77 million. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. On average, research analysts forecast that ResMed Inc. will post 3.55 earnings per share for the current year.
In other ResMed news, insider Robert Andrew Douglas sold 4,188 shares of the business’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $114.18, for a total transaction of $478,185.84. Following the sale, the insider now owns 41,728 shares in the company, valued at approximately $4,764,503.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 6,651 shares of the business’s stock in a transaction dated Monday, February 11th. The shares were sold at an average price of $97.18, for a total value of $646,344.18. Following the sale, the chief executive officer now owns 288,799 shares in the company, valued at approximately $28,065,486.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,662 shares of company stock worth $7,992,069. Company insiders own 1.24% of the company’s stock.
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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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