OLD National Bancorp IN acquired a new stake in ResMed Inc. (NYSE:RMD – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,059 shares of the medical equipment provider’s stock, valued at approximately $232,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of ResMed in the third quarter valued at about $26,000. Compass Wealth Management LLC purchased a new position in ResMed during the 4th quarter valued at about $26,000. Ronald Blue Trust Inc. increased its holdings in ResMed by 72.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 159 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 67 shares in the last quarter. CVA Family Office LLC increased its holdings in ResMed by 162.5% during the 3rd quarter. CVA Family Office LLC now owns 210 shares of the medical equipment provider’s stock valued at $46,000 after acquiring an additional 130 shares in the last quarter. Finally, Live Oak Investment Partners purchased a new position in ResMed during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 63.58% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on RMD. Mizuho began coverage on shares of ResMed in a report on Thursday, April 13th. They set a “buy” rating and a $255.00 target price for the company. UBS Group began coverage on shares of ResMed in a report on Monday, May 22nd. They set a “buy” rating and a $290.00 target price for the company. Finally, StockNews.com downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $263.43.
ResMed Stock Performance
ResMed (NYSE:RMD – Free Report) last released its earnings results on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.10. ResMed had a net margin of 21.49% and a return on equity of 25.82%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $1.32 earnings per share. ResMed’s revenue was up 29.2% compared to the same quarter last year. On average, equities analysts anticipate that ResMed Inc. will post 6.5 earnings per share for the current year.
ResMed Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.82%. ResMed’s payout ratio is 29.98%.
Insider Activity at ResMed
In related news, COO Robert Andrew Douglas sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $216.27, for a total value of $324,405.00. Following the completion of the sale, the chief operating officer now directly owns 253,526 shares in the company, valued at $54,830,068.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $217.39, for a total transaction of $1,233,688.25. Following the transaction, the chief executive officer now directly owns 436,930 shares of the company’s stock, valued at $94,984,212.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Robert Andrew Douglas sold 1,500 shares of ResMed stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $216.27, for a total transaction of $324,405.00. Following the transaction, the chief operating officer now directly owns 253,526 shares in the company, valued at $54,830,068.02. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,951 shares of company stock worth $7,004,814. 1.39% of the stock is owned by company insiders.
ResMed 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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