Thrivent Financial for Lutherans boosted its holdings in ResMed Inc. (NYSE:RMD – Get Rating) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,138 shares of the medical equipment provider’s stock after buying an additional 142 shares during the quarter. Thrivent Financial for Lutherans’ holdings in ResMed were worth $1,904,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of RMD. Point72 Asset Management L.P. boosted its holdings in shares of ResMed by 245.2% during the 3rd quarter. Point72 Asset Management L.P. now owns 397,861 shares of the medical equipment provider’s stock valued at $86,853,000 after acquiring an additional 282,613 shares in the last quarter. Capital Research Global Investors raised its position in ResMed by 83.1% in the first 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 last quarter. Vanguard Group Inc. raised its position in ResMed by 1.2% in the third quarter. Vanguard Group Inc. now owns 16,261,844 shares of the medical equipment provider’s stock valued at $3,549,959,000 after purchasing an additional 199,805 shares during the last quarter. Royal Bank of Canada increased its stake in shares of ResMed by 133.6% in the third quarter. Royal Bank of Canada now owns 125,500 shares of the medical equipment provider’s stock valued at $27,396,000 after buying an additional 71,769 shares during the period. Finally, Ardevora Asset Management LLP increased its stake in shares of ResMed by 23.4% in the third quarter. Ardevora Asset Management LLP now owns 342,509 shares of the medical equipment provider’s stock valued at $74,770,000 after buying an additional 64,984 shares during the period. 64.73% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have weighed in on RMD. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $245.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 27th. Mizuho initiated coverage on shares of ResMed in a report on Thursday, April 13th. They set a “buy” rating and a $255.00 price target on the stock. William Blair reaffirmed an “outperform” rating on shares of ResMed in a research report on Tuesday, January 31st. Finally, StockNews.com assumed coverage on ResMed in a research report on Thursday. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.00.
ResMed Stock Up 0.1 %
ResMed (NYSE:RMD – Get Rating) last released its quarterly earnings data on Thursday, April 27th. The medical equipment provider reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.58 by $0.10. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.05 billion. ResMed had a net margin of 21.49% and a return on equity of 25.82%. ResMed’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.32 EPS. Equities research analysts anticipate that ResMed Inc. will post 6.48 EPS for the current year.
ResMed Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, May 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.78%. ResMed’s dividend payout ratio (DPR) is presently 29.98%.
Insider Transactions at ResMed
In related news, insider David Pendarvis sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $216.69, for a total transaction of $325,035.00. Following the transaction, the insider now directly owns 94,172 shares of the company’s stock, valued at approximately $20,406,130.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider David Pendarvis sold 1,500 shares of ResMed stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $216.69, for a total value of $325,035.00. Following the completion of the sale, the insider now owns 94,172 shares of the company’s stock, valued at approximately $20,406,130.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael J. Farrell sold 5,675 shares of the firm’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $224.23, for a total transaction of $1,272,505.25. Following the completion of the transaction, the chief executive officer now directly owns 436,900 shares in the company, valued at $97,966,087. The disclosure for this sale can be found here. Insiders have sold 31,951 shares of company stock valued at $7,143,067 in the last 90 days. 1.39% of the stock is currently owned by corporate insiders.
ResMed Company Profile
ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.
- Get a free copy of the StockNews.com research report on ResMed (RMD)
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