Exane Asset Management purchased a new position in shares of ResMed Inc. (NYSE:RMD) during the third quarter, HoldingsChannel reports. The fund purchased 2,322 shares of the medical equipment provider’s stock, valued at approximately $268,000.
A number of other large investors have also recently added to or reduced their stakes in RMD. Deutsche Bank AG lifted its stake in ResMed by 323.1% during the third quarter. Deutsche Bank AG now owns 1,367,475 shares of the medical equipment provider’s stock worth $157,721,000 after purchasing an additional 1,044,295 shares in the last quarter. AQR Capital Management LLC lifted its stake in ResMed by 151.5% during the third quarter. AQR Capital Management LLC now owns 889,450 shares of the medical equipment provider’s stock worth $102,590,000 after purchasing an additional 535,803 shares in the last quarter. Renaissance Technologies LLC lifted its stake in ResMed by 149.1% during the third quarter. Renaissance Technologies LLC now owns 747,900 shares of the medical equipment provider’s stock worth $86,263,000 after purchasing an additional 447,649 shares in the last quarter. Schroder Investment Management Group lifted its stake in ResMed by 185.9% during the third quarter. Schroder Investment Management Group now owns 468,020 shares of the medical equipment provider’s stock worth $53,981,000 after purchasing an additional 304,320 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in ResMed by 2.1% during the third quarter. BlackRock Inc. now owns 11,180,412 shares of the medical equipment provider’s stock worth $1,289,550,000 after purchasing an additional 226,612 shares in the last quarter. Institutional investors own 64.83% of the company’s stock.
RMD has been the topic of a number of recent research reports. Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. BMO Capital Markets upped their price objective on ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. ResMed presently has an average rating of “Hold” and an average target price of $123.50.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. ResMed had a return on equity of 26.29% and a net margin of 13.94%. The business had revenue of $588.28 million for the quarter, compared to analyst estimates of $576.66 million. Analysts predict that ResMed Inc. will post 3.69 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Wednesday, November 7th. ResMed’s dividend payout ratio is currently 41.93%.
In other news, insider Robert Andrew Douglas sold 4,193 shares of the company’s stock in a transaction on Monday, December 17th. The stock was sold at an average price of $112.56, for a total transaction of $471,964.08. Following the sale, the insider now owns 89,605 shares of the company’s stock, valued at $10,085,938.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Hollingshead sold 5,893 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $105.52, for a total value of $621,829.36. Following the sale, the insider now directly owns 75,121 shares in the company, valued at approximately $7,926,767.92. The disclosure for this sale can be found here. Insiders have sold 32,913 shares of company stock worth $3,533,896 in the last ninety days. Corporate 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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