Pacer Advisors Inc. grew its holdings in shares of ResMed Inc. (NYSE:RMD – Free Report) by 22.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,282 shares of the medical equipment provider’s stock after buying an additional 2,429 shares during the period. Pacer Advisors Inc.’s holdings in ResMed were worth $2,902,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of RMD. Geode Capital Management LLC grew its holdings in ResMed by 3.3% in the first quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock worth $706,314,000 after purchasing an additional 103,438 shares during the period. JPMorgan Chase & Co. grew its stake in shares of ResMed by 3.5% in the 4th quarter. JPMorgan Chase & Co. now owns 1,326,430 shares of the medical equipment provider’s stock valued at $276,071,000 after buying an additional 45,381 shares during the period. Bank of New York Mellon Corp increased its position in ResMed by 1.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,260,009 shares of the medical equipment provider’s stock valued at $275,929,000 after buying an additional 17,283 shares in the last quarter. Norges Bank bought a new stake in ResMed in the 4th quarter valued at about $244,477,000. Finally, Morgan Stanley raised its stake in ResMed by 10.3% during the 4th quarter. Morgan Stanley now owns 1,015,261 shares of the medical equipment provider’s stock worth $211,307,000 after buying an additional 95,143 shares during the period. Institutional investors and hedge funds own 63.79% of the company’s stock.
ResMed Stock Up 0.2 %
RMD opened at $136.61 on Monday. ResMed Inc. has a fifty-two week low of $136.22 and a fifty-two week high of $243.52. The firm has a market capitalization of $20.09 billion, a P/E ratio of 22.40, a PEG ratio of 2.48 and a beta of 0.52. The company’s 50-day moving average is $177.38 and its 200 day moving average is $204.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.12 and a quick ratio of 1.81.
ResMed Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th were given a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.92 annualized dividend and a yield of 1.41%. This is a boost from ResMed’s previous quarterly dividend of $0.44. ResMed’s payout ratio is currently 31.48%.
Insiders Place Their Bets
In other news, insider Kaushik Ghoshal sold 500 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. Following the completion of the sale, the insider now directly owns 11,787 shares of the company’s stock, valued at approximately $2,593,140. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Kaushik Ghoshal sold 500 shares of the stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. Following the completion of the transaction, the insider now owns 11,787 shares in the company, valued at $2,593,140. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael J. Farrell sold 5,675 shares of ResMed stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $221.27, for a total transaction of $1,255,707.25. Following the completion of the sale, the chief executive officer now directly owns 436,930 shares in the company, valued at approximately $96,679,501.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,575 shares of company stock valued at $3,851,782. Insiders own 1.39% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Mizuho reduced their price objective on ResMed from $255.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, September 13th. Royal Bank of Canada decreased their price target on shares of ResMed from $284.00 to $273.00 and set an “outperform” rating for the company in a research note on Monday, August 14th. Bank of America dropped their price objective on shares of ResMed from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Monday, September 18th. UBS Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 5th. Finally, KeyCorp dropped their price target on shares of ResMed from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.29.
Get Our Latest Analysis on RMD
ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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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