Amundi decreased its stake in ResMed Inc. (NYSE:RMD – Get Rating) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 777,595 shares of the medical equipment provider’s stock after selling 83,808 shares during the period. Amundi owned about 0.53% of ResMed worth $166,817,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its position in ResMed by 15.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,050 shares of the medical equipment provider’s stock valued at $740,000 after buying an additional 414 shares during the period. Cibc World Market Inc. boosted its position in ResMed by 13.0% during the 1st quarter. Cibc World Market Inc. now owns 1,000 shares of the medical equipment provider’s stock valued at $243,000 after buying an additional 115 shares during the period. Vontobel Holding Ltd. boosted its position in ResMed by 14.5% during the 1st quarter. Vontobel Holding Ltd. now owns 8,112 shares of the medical equipment provider’s stock valued at $2,020,000 after buying an additional 1,025 shares during the period. Sei Investments Co. boosted its position in ResMed by 7.8% during the 1st quarter. Sei Investments Co. now owns 40,740 shares of the medical equipment provider’s stock valued at $9,781,000 after buying an additional 2,955 shares during the period. Finally, Prudential PLC purchased a new stake in ResMed during the 1st quarter valued at $694,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.
Insider Activity
In related news, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $206.95, for a total value of $1,174,441.25. Following the sale, the chief executive officer now owns 436,900 shares in the company, valued at $90,416,455. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brett Sandercock sold 3,426 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $232.05, for a total value of $795,003.30. Following the transaction, the chief financial officer now directly owns 103,516 shares in the company, valued at $24,020,887.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $206.95, for a total transaction of $1,174,441.25. Following the transaction, the chief executive officer now owns 436,900 shares in the company, valued at $90,416,455. The disclosure for this sale can be found here. Insiders have sold a total of 32,451 shares of company stock worth $7,257,717 over the last quarter. Insiders own 1.39% of the company’s stock.
Analysts Set New Price Targets
ResMed Stock Performance
Shares of NYSE RMD opened at $214.70 on Tuesday. The company has a quick ratio of 1.74, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. The company has a market cap of $31.55 billion, a PE ratio of 36.58, a PEG ratio of 3.20 and a beta of 0.48. The firm’s 50-day moving average price is $224.47 and its 200-day moving average price is $219.60. ResMed Inc. has a 52-week low of $194.30 and a 52-week high of $247.65.
ResMed (NYSE:RMD – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.10. ResMed had a net margin of 21.49% and a return on equity of 25.82%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. As a group, analysts anticipate that ResMed Inc. will post 6.48 EPS for the current year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 11th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, May 10th. ResMed’s payout ratio is currently 29.98%.
About ResMed
ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.
Featured Stories
- Get a free copy of the StockNews.com research report on ResMed (RMD)
- Can Cardinal Health Fly Higher In 2023?
- DraftKings Stock, Is There Royally Good Upside Ahead?
- Disney Stock Could Double: Return To Historical Performance
- For AI Exposure, Try Global Artificial Intelligence ETF
- 3 Penny Stocks The Insiders Are BuyingÂ
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 – Get Rating).
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.
