Norges Bank bought a new position in ResMed Inc. (NYSE:RMD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 1,080,104 shares of the medical equipment provider’s stock, valued at approximately $229,587,000.
Other hedge funds have also modified their holdings of the company. Regent Peak Wealth Advisors LLC bought a new stake in ResMed in the fourth quarter worth approximately $30,000. Capital Asset Advisory Services LLC bought a new stake in ResMed in the fourth quarter worth approximately $34,000. International Assets Investment Management LLC bought a new stake in ResMed in the fourth quarter worth approximately $37,000. JJJ Advisors Inc. increased its holdings in ResMed by 435.3% in the fourth quarter. JJJ Advisors Inc. now owns 182 shares of the medical equipment provider’s stock worth $39,000 after purchasing an additional 148 shares in the last quarter. Finally, Bainco International Investors bought a new stake in shares of ResMed during the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 68.64% of the company’s stock.
Shares of NYSE:RMD opened at $197.12 on Thursday. The stock has a market cap of $28.68 billion, a price-to-earnings ratio of 42.30, a PEG ratio of 2.86 and a beta of 0.28. The company has a quick ratio of 1.80, a current ratio of 2.61 and a debt-to-equity ratio of 0.39. ResMed Inc. has a 12-month low of $149.16 and a 12-month high of $224.43. The business’s 50 day moving average is $191.34 and its 200 day moving average is $198.47.
ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 28th. The medical equipment provider reported $1.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $0.19. The company had revenue of $800.00 million for the quarter, compared to analysts’ expectations of $785.07 million. ResMed had a return on equity of 30.64% and a net margin of 22.45%. ResMed’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. As a group, equities research analysts expect that ResMed Inc. will post 5.21 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Thursday, February 11th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, February 10th. This represents a $1.56 annualized dividend and a dividend yield of 0.79%. ResMed’s payout ratio is 32.77%.
In other ResMed news, CFO Brett Sandercock sold 2,500 shares of the business’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $218.70, for a total value of $546,750.00. Following the transaction, the chief financial officer now owns 100,600 shares of the company’s stock, valued at $22,001,220. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Rajwant Sodhi sold 1,500 shares of the business’s stock in a transaction on Monday, February 1st. The stock was sold at an average price of $203.76, for a total value of $305,640.00. Following the completion of the transaction, the insider now directly owns 33,088 shares in the company, valued at approximately $6,742,010.88. The disclosure for this sale can be found here. In the last three months, insiders sold 19,506 shares of company stock worth $3,893,437. Insiders own 1.33% of the company’s stock.
Several research firms have recently commented on RMD. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating and set a $222.00 price objective for the company. in a report on Wednesday, December 30th. Needham & Company LLC upgraded ResMed from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a report on Monday, March 22nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. ResMed currently has an average rating of “Hold” and an average target price of $199.71.
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 apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.
Recommended Story: Equity Income
Want to see what other hedge funds are holding RMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ResMed Inc. (NYSE:RMD).
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.