Louisiana State Employees Retirement System lifted its stake in shares of ResMed Inc. (NYSE:RMD – Free Report) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,600 shares of the medical equipment provider’s stock after purchasing an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in ResMed were worth $2,102,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in ResMed in the fourth quarter worth approximately $244,477,000. Capital Research Global Investors lifted its stake in shares of ResMed by 83.1% in the first quarter. Capital Research Global Investors now owns 557,558 shares of the medical equipment provider’s stock valued at $135,213,000 after buying an additional 253,121 shares in the last quarter. Natixis grew its holdings in shares of ResMed by 2,341.8% during the fourth quarter. Natixis now owns 220,203 shares of the medical equipment provider’s stock valued at $45,831,000 after buying an additional 211,185 shares during the last quarter. Vanguard Group Inc. increased its position in shares of ResMed by 1.2% during the third quarter. Vanguard Group Inc. now owns 16,261,844 shares of the medical equipment provider’s stock worth $3,549,959,000 after acquiring an additional 199,805 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in shares of ResMed by 89.1% in the 4th quarter. Alyeska Investment Group L.P. now owns 387,610 shares of the medical equipment provider’s stock worth $80,673,000 after acquiring an additional 182,605 shares during the last quarter. 63.58% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at ResMed
In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the business’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $224.23, for a total value of $1,272,505.25. Following the sale, the chief executive officer now directly owns 436,900 shares in the company, valued at $97,966,087. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Michael J. Farrell sold 5,675 shares of the company’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $224.23, for a total transaction of $1,272,505.25. Following the sale, the chief executive officer now directly owns 436,900 shares in the company, valued at approximately $97,966,087. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 3,426 shares of ResMed stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $232.05, for a total transaction of $795,003.30. Following the completion of the transaction, the chief financial officer now owns 103,516 shares of the company’s stock, valued at $24,020,887.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,951 shares of company stock valued at $7,004,814. Company insiders own 1.39% of the company’s stock.
ResMed Trading Up 1.0 %
ResMed (NYSE:RMD – Free Report) last posted its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.10. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.05 billion. ResMed had a net margin of 21.49% and a return on equity of 25.82%. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.32 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 6.5 EPS for the current year.
ResMed Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.76 annualized dividend and a yield of 0.81%. ResMed’s payout ratio is 29.98%.
Wall Street Analyst Weigh In
RMD has been the subject of a number of analyst reports. Mizuho assumed coverage on ResMed in a research note on Thursday, April 13th. They set a “buy” rating and a $255.00 price target for the company. UBS Group assumed coverage on ResMed in a research report on Monday, May 22nd. They set a “buy” rating and a $290.00 target price on the stock. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $263.43.
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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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