MARSHALL WACE ASIA Ltd acquired a new stake in ResMed Inc. (NYSE:RMD) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 35,405 shares of the medical equipment provider’s stock, valued at approximately $3,681,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in ResMed by 4.8% during the 1st quarter. Fifth Third Bancorp now owns 2,909 shares of the medical equipment provider’s stock worth $302,000 after acquiring an additional 133 shares during the last quarter. Fort L.P. boosted its stake in ResMed by 13.2% during the 1st quarter. Fort L.P. now owns 8,652 shares of the medical equipment provider’s stock worth $900,000 after acquiring an additional 1,010 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in ResMed during the 1st quarter worth approximately $50,000. GYL Financial Synergies LLC bought a new position in ResMed during the 1st quarter worth approximately $756,000. Finally, Westpac Banking Corp boosted its stake in ResMed by 18.9% during the 1st quarter. Westpac Banking Corp now owns 199,844 shares of the medical equipment provider’s stock worth $8,240,000 after acquiring an additional 31,820 shares during the last quarter. Hedge funds and other institutional investors own 67.26% of the company’s stock.
RMD traded down $0.69 during trading on Friday, reaching $118.75. The company had a trading volume of 14,309 shares, compared to its average volume of 482,474. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.69 and a current ratio of 2.38. ResMed Inc. has a 12 month low of $90.64 and a 12 month high of $120.00. The firm has a market cap of $17.14 billion, a P/E ratio of 33.70, a PEG ratio of 3.11 and a beta of 0.44.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.05. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The firm had revenue of $662.23 million for the quarter, compared to analyst estimates of $657.82 million. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that ResMed Inc. will post 3.63 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Wednesday, May 8th. ResMed’s payout ratio is currently 41.93%.
In other ResMed news, CFO Brett Sandercock sold 3,000 shares of ResMed stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $104.96, for a total value of $314,880.00. Following the transaction, the chief financial officer now owns 85,390 shares of the company’s stock, valued at $8,962,534.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Pendarvis sold 4,457 shares of ResMed stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $105.21, for a total transaction of $468,920.97. Following the completion of the transaction, the insider now directly owns 122,459 shares in the company, valued at approximately $12,883,911.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,171 shares of company stock worth $10,895,378. Insiders own 1.24% of the company’s stock.
Several research firms recently weighed in on RMD. UBS Group raised shares of ResMed from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $109.00 to $119.00 in a research note on Monday, May 6th. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Monday, April 1st. ValuEngine raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Finally, JPMorgan Chase & Co. raised shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price target on the stock in a research note on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $112.50.
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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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