Board of the Pension Protection Fund bought a new position in shares of ResMed Inc. (NYSE:RMD – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,000 shares of the medical equipment provider’s stock, valued at approximately $915,000.
Several other large investors have also added to or reduced their stakes in RMD. UMB Bank n.a. grew its stake in shares of ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after buying an additional 47 shares during the last quarter. Ascent Group LLC lifted its position in shares of ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital grew its holdings in shares of ResMed by 2.6% in the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock worth $475,000 after purchasing an additional 52 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after acquiring an additional 57 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.
ResMed Trading Down 0.7 %
Shares of NYSE:RMD opened at $228.61 on Wednesday. The business’s 50-day moving average is $239.24 and its 200 day moving average is $232.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed Inc. has a 1 year low of $168.29 and a 1 year high of $260.49. The firm has a market capitalization of $33.56 billion, a P/E ratio of 30.28, a P/E/G ratio of 1.73 and a beta of 0.70.
ResMed Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is presently 28.08%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective for the company. Royal Bank of Canada raised their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research report on Friday, October 25th. Baird R W upgraded shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $233.09.
Get Our Latest Stock Analysis on ResMed
Insider Activity at ResMed
In other news, Director Witte Jan De sold 796 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. This represents a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,099 shares of company stock valued at $2,719,385 in the last ninety days. Company insiders own 0.71% of the company’s stock.
ResMed Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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