Dupont Capital Management Corp Takes $92,000 Position in ResMed Inc. (NYSE:RMD)

Dupont Capital Management Corp purchased a new stake in ResMed Inc. (NYSE:RMDGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 423 shares of the medical equipment provider’s stock, valued at approximately $92,000.

A number of other large investors also recently made changes to their positions in the stock. FMR LLC raised its stake in shares of ResMed by 7.7% in the 2nd quarter. FMR LLC now owns 7,519,624 shares of the medical equipment provider’s stock valued at $1,576,339,000 after purchasing an additional 535,742 shares during the period. Capital Research Global Investors raised its stake in shares of ResMed by 83.1% in the 1st quarter. Capital Research Global Investors now owns 557,558 shares of the medical equipment provider’s stock valued at $135,213,000 after purchasing an additional 253,121 shares during the period. Voya Investment Management LLC raised its stake in shares of ResMed by 157.6% in the 2nd quarter. Voya Investment Management LLC now owns 254,485 shares of the medical equipment provider’s stock valued at $53,348,000 after purchasing an additional 155,676 shares during the period. OLD Mission Capital LLC acquired a new stake in shares of ResMed in the 2nd quarter valued at about $23,092,000. Finally, Point72 Asset Management L.P. raised its stake in shares of ResMed by 226.7% in the 2nd quarter. Point72 Asset Management L.P. now owns 115,248 shares of the medical equipment provider’s stock valued at $24,159,000 after purchasing an additional 79,973 shares during the period. Institutional investors and hedge funds own 64.73% of the company’s stock.

ResMed Trading Up 0.3 %

ResMed stock opened at $225.97 on Thursday. ResMed Inc. has a 52 week low of $189.40 and a 52 week high of $262.38. The stock has a market capitalization of $33.10 billion, a P/E ratio of 42.24, a PEG ratio of 1.41 and a beta of 0.50. The stock has a 50-day simple moving average of $218.04 and a 200 day simple moving average of $222.68. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.69 and a current ratio of 2.94.

ResMed (NYSE:RMDGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The medical equipment provider reported $1.51 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.51. ResMed had a return on equity of 25.75% and a net margin of 21.70%. The company had revenue of $950.30 million during the quarter, compared to analysts’ expectations of $946.07 million. During the same quarter in the previous year, the company posted $1.51 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis. Analysts expect that ResMed Inc. will post 6.45 earnings per share for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 10th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Wednesday, November 9th. ResMed’s dividend payout ratio is presently 32.90%.

Insider Transactions at ResMed

In other news, insider Lucile Blaise sold 169 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $225.18, for a total transaction of $38,055.42. Following the completion of the sale, the insider now owns 7,335 shares in the company, valued at $1,651,695.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Lucile Blaise sold 169 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $225.18, for a total transaction of $38,055.42. Following the completion of the sale, the insider now owns 7,335 shares in the company, valued at $1,651,695.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Robert Andrew Douglas sold 11,280 shares of ResMed stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $222.07, for a total transaction of $2,504,949.60. Following the completion of the sale, the chief operating officer now owns 40,186 shares of the company’s stock, valued at $8,924,105.02. The disclosure for this sale can be found here. Insiders sold a total of 56,226 shares of company stock worth $12,439,247 over the last quarter. Company insiders own 1.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RMD. Royal Bank of Canada lifted their price target on ResMed from $252.00 to $254.00 and gave the company a “sector perform” rating in a research note on Friday, October 28th. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Jefferies Financial Group initiated coverage on ResMed in a report on Wednesday, October 12th. They issued a “hold” rating and a $245.00 price objective for the company. Bank of America upgraded ResMed from a “neutral” rating to a “buy” rating and raised their price objective for the company from $245.00 to $260.00 in a report on Thursday, October 20th. Finally, JPMorgan Chase & Co. upgraded ResMed from a “neutral” rating to an “overweight” rating and set a $245.00 price objective for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus price target of $263.43.

ResMed Company Profile

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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.

Further Reading

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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