Nuveen LLC bought a new position in shares of ResMed Inc. (NYSE:RMD – Free Report) during the first quarter, Holdings Channel reports. The institutional investor bought 310,438 shares of the medical equipment provider’s stock, valued at approximately $69,492,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Global X Japan Co. Ltd. increased its holdings in shares of ResMed by 121.4% in the 1st quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 68 shares during the period. Colonial Trust Co SC increased its holdings in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new stake in shares of ResMed in the 4th quarter worth about $33,000. Golden State Wealth Management LLC increased its holdings in shares of ResMed by 384.8% in the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 127 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after buying an additional 150 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $279.48, for a total value of $2,238,355.32. Following the completion of the transaction, the chief executive officer directly owned 455,503 shares in the company, valued at $127,303,978.44. This trade represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Peter C. Farrell sold 945 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $255.49, for a total transaction of $241,438.05. Following the completion of the transaction, the director owned 68,273 shares of the company’s stock, valued at approximately $17,443,068.77. The trade was a 1.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,063 shares of company stock worth $7,058,835 over the last ninety days. 0.71% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on RMD
ResMed Stock Performance
Shares of RMD opened at $288.15 on Thursday. The firm’s 50 day moving average is $262.82 and its 200-day moving average is $242.61. The stock has a market capitalization of $42.19 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.90 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. ResMed Inc. has a 12-month low of $199.92 and a 12-month high of $293.08.
ResMed (NYSE:RMD – Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.08. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.08 EPS. Equities research analysts anticipate that ResMed Inc. will post 9.47 EPS for the current fiscal year.
ResMed Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 14th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, August 13th. This is a positive change from ResMed’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. ResMed’s dividend payout ratio is 22.29%.
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
Further Reading
- Five stocks we like better than ResMed
- How to Buy Cheap Stocks Step by Step
- 3 Earnings Reports Give a Snapshot of Consumer Sentiment
- About the Markup Calculator
- Amazon’s Bears Have Raised the White Flag—Get Excited
- What is a Bond Market Holiday? How to Invest and Trade
- Tempus AI’s Strong Q2 Fuels Growth Story—More Upside Ahead?
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 – Free Report).
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.