Stephens Inc. AR raised its holdings in ResMed Inc. (NYSE:RMD) by 4.8% in the first quarter, Holdings Channel reports. The fund owned 12,034 shares of the medical equipment provider’s stock after buying an additional 556 shares during the period. Stephens Inc. AR’s holdings in ResMed were worth $1,251,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. LaFleur & Godfrey LLC raised its holdings in ResMed by 2.5% in the 1st quarter. LaFleur & Godfrey LLC now owns 60,651 shares of the medical equipment provider’s stock valued at $6,306,000 after acquiring an additional 1,501 shares during the last quarter. Hsbc Holdings PLC raised its holdings in ResMed by 28.4% in the 4th quarter. Hsbc Holdings PLC now owns 129,061 shares of the medical equipment provider’s stock valued at $14,661,000 after acquiring an additional 28,515 shares during the last quarter. Oakbrook Investments LLC acquired a new stake in ResMed in the 4th quarter valued at about $851,000. FNY Investment Advisers LLC acquired a new stake in ResMed in the 1st quarter valued at about $1,807,000. Finally, Chicago Equity Partners LLC raised its holdings in ResMed by 503.8% in the 4th quarter. Chicago Equity Partners LLC now owns 58,930 shares of the medical equipment provider’s stock valued at $6,710,000 after acquiring an additional 49,170 shares during the last quarter. Institutional investors own 67.91% of the company’s stock.
Shares of NYSE RMD opened at $112.78 on Friday. The company has a market cap of $16.17 billion, a PE ratio of 31.95, a PEG ratio of 2.93 and a beta of 0.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.38 and a quick ratio of 1.69. ResMed Inc. has a 1 year low of $90.64 and a 1 year high of $118.50.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.05. The business had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The business’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. On average, sell-side analysts expect that ResMed Inc. will post 3.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.31%. ResMed’s dividend payout ratio is currently 41.93%.
A number of brokerages have recently issued reports on RMD. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Deutsche Bank upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research downgraded shares of ResMed from a “hold” rating to a “sell” rating in a report on Friday, March 29th. JPMorgan Chase & Co. upgraded shares of ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price target for the company in a report on Thursday, April 18th. Finally, Goldman Sachs Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $112.50.
In related news, insider Robert Andrew Douglas sold 4,298 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.90, for a total transaction of $433,668.20. Following the completion of the transaction, the insider now owns 48,604 shares of the company’s stock, valued at approximately $4,904,143.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $103.00, for a total transaction of $309,000.00. Following the transaction, the chief financial officer now directly owns 88,390 shares of the company’s stock, valued at approximately $9,104,170. The disclosure for this sale can be found here. Insiders have sold a total of 76,556 shares of company stock valued at $7,965,844 in the last 90 days. Insiders own 1.24% of the company’s stock.
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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