Deutsche Bank AG cut its holdings in ResMed Inc. (NYSE:RMD) by 21.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,070,593 shares of the medical equipment provider’s stock after selling 296,882 shares during the period. Deutsche Bank AG owned 0.75% of ResMed worth $121,904,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc boosted its holdings in ResMed by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 14,567,805 shares of the medical equipment provider’s stock worth $1,680,251,000 after buying an additional 69,129 shares during the period. BlackRock Inc. boosted its holdings in ResMed by 5.2% in the 4th quarter. BlackRock Inc. now owns 11,764,243 shares of the medical equipment provider’s stock worth $1,339,597,000 after buying an additional 583,831 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in ResMed by 15,868.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock worth $46,000 after buying an additional 5,241,994 shares during the period. WCM Investment Management LLC bought a new position in ResMed in the 4th quarter worth approximately $492,415,000. Finally, Geode Capital Management LLC boosted its holdings in ResMed by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 2,020,799 shares of the medical equipment provider’s stock worth $229,741,000 after buying an additional 131,732 shares during the period. 68.12% of the stock is owned by institutional investors.
In other ResMed news, CFO Brett Sandercock sold 3,000 shares of the business’s stock in a transaction dated Wednesday, January 30th. The shares were sold at an average price of $92.30, for a total value of $276,900.00. Following the transaction, the chief financial officer now owns 91,390 shares in the company, valued at $8,435,297. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Andrew Douglas sold 4,188 shares of the business’s stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $114.18, for a total transaction of $478,185.84. Following the completion of the transaction, the insider now owns 41,728 shares in the company, valued at approximately $4,764,503.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,205 shares of company stock worth $7,305,737. 1.24% of the stock is owned by corporate insiders.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.05. The company had revenue of $651.10 million for the quarter, compared to analysts’ expectations of $676.77 million. ResMed had a net margin of 18.34% and a return on equity of 26.53%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. As a group, equities analysts forecast that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 7th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, February 6th. ResMed’s payout ratio is presently 41.93%.
Several research firms recently commented on RMD. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “buy” rating and set a $116.00 price objective for the company in a report on Monday. Deutsche Bank raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. BMO Capital Markets cut their price target on shares of ResMed to $120.00 and set a “positive” rating for the company in a report on Monday, January 28th. JPMorgan Chase & Co. downgraded shares of ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price target for the company. in a report on Friday, January 25th. Finally, Goldman Sachs Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Friday, January 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. ResMed currently has a consensus rating of “Hold” and a consensus price target of $111.87.
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ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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