Tredje AP fonden lowered its position in shares of ResMed Inc. (NYSE:RMD) by 55.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,700 shares of the medical equipment provider’s stock after selling 12,000 shares during the quarter. Tredje AP fonden’s holdings in ResMed were worth $747,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in RMD. YorkBridge Wealth Partners LLC raised its position in ResMed by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 69 shares during the last quarter. Creative Planning raised its position in ResMed by 97.1% during the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 823 shares during the last quarter. Toronto Dominion Bank raised its position in ResMed by 12.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 197 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in ResMed during the 2nd quarter worth $214,000. Finally, Pacer Advisors Inc. raised its position in ResMed by 8.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,924 shares of the medical equipment provider’s stock worth $228,000 after buying an additional 225 shares during the last quarter. Institutional investors own 62.02% of the company’s stock.
RMD has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a research note on Friday, October 27th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “sell” rating in a research note on Tuesday, October 24th. J P Morgan Chase & Co upped their price target on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Finally, Barclays upped their price target on shares of ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $67.57.
In related news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $77.05, for a total value of $96,312.50. Following the sale, the chief financial officer now directly owns 64,691 shares of the company’s stock, valued at approximately $4,984,441.55. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David Pendarvis sold 2,804 shares of the stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $84.17, for a total transaction of $236,012.68. Following the completion of the sale, the insider now directly owns 97,257 shares in the company, valued at $8,186,121.69. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,693 shares of company stock worth $15,149,955. 1.77% of the stock is owned by corporate insiders.
ResMed Inc. (NYSE RMD) traded up $0.60 during trading hours on Friday, hitting $86.37. 546,820 shares of the stock were exchanged, compared to its average volume of 552,324. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. ResMed Inc. has a fifty-two week low of $60.13 and a fifty-two week high of $87.81. The firm has a market cap of $12,256.25, a PE ratio of 30.09, a PEG ratio of 1.92 and a beta of 0.78.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $523.66 million for the quarter, compared to analysts’ expectations of $506.08 million. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. analysts forecast that ResMed Inc. will post 3 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a yield of 1.62%. ResMed’s payout ratio is 56.68%.
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ResMed Company Profile
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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