Wells Fargo & Company MN raised its holdings in ResMed Inc. (NYSE:RMD) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,978 shares of the medical equipment provider’s stock after buying an additional 11,876 shares during the quarter. Wells Fargo & Company MN owned 0.15% of ResMed worth $18,206,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC bought a new stake in shares of ResMed in the 3rd quarter worth about $113,000. Calton & Associates Inc. bought a new stake in shares of ResMed in the 4th quarter worth about $115,000. Conning Inc. bought a new stake in shares of ResMed in the 4th quarter worth about $203,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of ResMed in the 4th quarter worth about $206,000. Finally, Dowling & Yahnke LLC bought a new stake in shares of ResMed in the 4th quarter worth about $208,000. 62.40% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on RMD shares. Zacks Investment Research lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. BMO Capital Markets upped their target price on shares of ResMed to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, January 23rd. Northland Securities raised shares of ResMed from an “under perform” rating to a “market perform” rating in a report on Tuesday, January 23rd. Macquarie lowered shares of ResMed from a “neutral” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, ValuEngine raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Three analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $75.17.
ResMed (NYSE:RMD) last issued its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.22. The business had revenue of $601.27 million for the quarter, compared to the consensus estimate of $583.77 million. ResMed had a net margin of 12.98% and a return on equity of 22.75%. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 EPS. equities research analysts expect that ResMed Inc. will post 3.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 8th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.40 annualized dividend and a yield of 1.40%. ResMed’s dividend payout ratio (DPR) is 70.00%.
In related news, insider James Hollingshead sold 600 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $84.96, for a total transaction of $50,976.00. Following the transaction, the insider now owns 62,602 shares in the company, valued at approximately $5,318,665.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $84.99, for a total transaction of $106,237.50. Following the transaction, the chief financial officer now owns 78,322 shares in the company, valued at approximately $6,656,586.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,139 shares of company stock worth $4,398,906. 1.77% of the stock is owned by corporate 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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