First Business Financial Services Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD) by 25.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,100 shares of the medical equipment provider’s stock after buying an additional 1,643 shares during the quarter. First Business Financial Services Inc.’s holdings in ResMed were worth $686,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in RMD. Koch Industries Inc. lifted its stake in ResMed by 17,065.2% during the second quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock worth $973,000 after purchasing an additional 980,053 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in ResMed by 47.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 660,980 shares of the medical equipment provider’s stock worth $50,870,000 after purchasing an additional 214,122 shares during the last quarter. Janus Henderson Group PLC lifted its stake in ResMed by 1,205.7% during the second quarter. Janus Henderson Group PLC now owns 222,648 shares of the medical equipment provider’s stock worth $17,337,000 after purchasing an additional 205,596 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in ResMed during the third quarter worth $9,562,000. Finally, FNY Partners Fund LP bought a new position in ResMed during the third quarter worth $7,892,000. Institutional investors own 61.47% of the company’s stock.
RMD has been the topic of several research analyst reports. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research note on Friday, October 27th. BMO Capital Markets increased their target price on ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Zacks Investment Research lowered ResMed from a “buy” rating to a “sell” rating in a research report on Tuesday, October 24th. JPMorgan Chase & Co. increased their target price on ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, Barclays increased their target price on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $76.00.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.22. The company had revenue of $601.27 million for the quarter, compared to analyst estimates of $583.77 million. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. research analysts anticipate that ResMed Inc. will post 3.34 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is 70.00%.
In other news, CFO Brett Sandercock sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $93.42, for a total transaction of $186,840.00. Following the transaction, the chief financial officer now directly owns 75,072 shares of the company’s stock, valued at $7,013,226.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Hollingshead sold 7,019 shares of the firm’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $84.16, for a total value of $590,719.04. Following the transaction, the insider now directly owns 66,409 shares in the company, valued at $5,588,981.44. The disclosure for this sale can be found here. Insiders have sold 51,802 shares of company stock worth $5,011,567 over the last three months. Corporate insiders own 1.77% of the company’s stock.
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ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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