State of Tennessee Treasury Department trimmed its stake in shares of ResMed Inc. (NYSE:RMD) by 59.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 38,551 shares of the medical equipment provider’s stock after selling 57,249 shares during the period. State of Tennessee Treasury Department’s holdings in ResMed were worth $2,967,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in shares of ResMed by 38.2% in the 2nd quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock worth $431,601,000 after buying an additional 1,531,772 shares in the last quarter. Koch Industries Inc. grew its stake in shares of ResMed by 17,065.2% in the 2nd quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock worth $973,000 after buying an additional 980,053 shares in the last quarter. BlackRock Inc. grew its stake in shares of ResMed by 6.8% in the 2nd quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock worth $1,108,877,000 after buying an additional 904,939 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of ResMed by 3.3% in the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock worth $927,797,000 after buying an additional 378,964 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of ResMed by 191.8% in the 2nd quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock worth $27,255,000 after buying an additional 230,056 shares in the last quarter. 58.86% of the stock is owned by institutional investors.
A number of equities analysts have commented on the stock. Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Northland Securities reissued a “sell” rating and issued a $55.00 price objective on shares of ResMed in a research note on Friday, October 27th. Jefferies Group LLC reissued a “sell” rating and issued a $56.00 price objective on shares of ResMed in a research note on Thursday, October 12th. Finally, BMO Capital Markets raised their target price on shares of ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and a consensus target price of $67.57.
ResMed (NYSE:RMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The firm had revenue of $523.66 million during the quarter, compared to analyst estimates of $506.08 million. During the same quarter last year, the business earned $0.62 EPS. The business’s revenue was up 12.5% on a year-over-year basis. research analysts expect that ResMed Inc. will post 3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a yield of 1.65%. ResMed’s payout ratio is 56.68%.
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In related news, CFO Brett Sandercock sold 1,250 shares of ResMed stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $77.56, for a total transaction of $96,950.00. Following the completion of the sale, the chief financial officer now owns 65,941 shares in the company, valued at approximately $5,114,383.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Pendarvis sold 6,364 shares of ResMed stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $77.21, for a total transaction of $491,364.44. Following the sale, the insider now owns 93,172 shares of the company’s stock, valued at approximately $7,193,810.12. The disclosure for this sale can be found here. Insiders have sold a total of 201,234 shares of company stock valued at $16,339,637 in the last quarter. 1.77% of the stock is currently owned by company insiders.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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