Great Lakes Advisors LLC lifted its stake in ResMed (NYSE:RMD) by 65.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 182,872 shares of the medical equipment provider’s stock after purchasing an additional 72,344 shares during the quarter. Great Lakes Advisors LLC owned 0.13% of ResMed worth $18,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. raised its position in shares of ResMed by 120.6% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 23,125 shares of the medical equipment provider’s stock worth $2,277,000 after purchasing an additional 12,644 shares during the last quarter. Motley Fool Wealth Management LLC raised its position in ResMed by 3.8% in the 1st quarter. Motley Fool Wealth Management LLC now owns 178,085 shares of the medical equipment provider’s stock worth $17,536,000 after buying an additional 6,497 shares during the last quarter. Victory Capital Management Inc. raised its position in ResMed by 2.3% in the 1st quarter. Victory Capital Management Inc. now owns 26,503 shares of the medical equipment provider’s stock worth $2,610,000 after buying an additional 595 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in ResMed in the 1st quarter worth about $3,446,000. Finally, Trexquant Investment LP purchased a new position in ResMed in the 1st quarter worth about $370,000. 62.79% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on RMD shares. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $112.00 price target for the company in a research note on Friday, February 2nd. ValuEngine upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Needham & Company LLC upgraded ResMed from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $74.83.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, April 26th. The medical equipment provider reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.07. The company had revenue of $591.60 million for the quarter, compared to the consensus estimate of $575.75 million. ResMed had a return on equity of 23.72% and a net margin of 13.52%. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share. equities analysts expect that ResMed will post 3.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 10th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Wednesday, May 9th. ResMed’s dividend payout ratio is presently 49.65%.
In other news, Director Gary W. Pace sold 28,403 shares of ResMed stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $97.37, for a total value of $2,765,600.11. Following the sale, the director now directly owns 128,981 shares of the company’s stock, valued at $12,558,879.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $98.53, for a total value of $197,060.00. Following the completion of the sale, the chief financial officer now directly owns 73,072 shares in the company, valued at $7,199,784.16. The disclosure for this sale can be found here. In the last three months, insiders sold 41,823 shares of company stock valued at $4,070,426. Corporate insiders own 1.77% of the company’s stock.
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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