NN Investment Partners Holdings N.V. grew its stake in shares of ResMed Inc. (NYSE:RMD) by 510.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 174,686 shares of the medical equipment provider’s stock after purchasing an additional 146,054 shares during the quarter. NN Investment Partners Holdings N.V. owned approximately 0.12% of ResMed worth $20,149,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of ResMed by 16.4% during the third quarter. Russell Investments Group Ltd. now owns 165,925 shares of the medical equipment provider’s stock valued at $19,074,000 after purchasing an additional 23,332 shares during the period. RNC Capital Management LLC purchased a new stake in shares of ResMed during the third quarter valued at $219,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of ResMed by 117.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 82,217 shares of the medical equipment provider’s stock valued at $9,481,000 after purchasing an additional 44,399 shares during the period. Palo Capital Inc. purchased a new stake in shares of ResMed during the third quarter valued at $2,078,000. Finally, Pillar Pacific Capital Management LLC lifted its stake in ResMed by 1.6% in the third quarter. Pillar Pacific Capital Management LLC now owns 46,546 shares of the medical equipment provider’s stock worth $5,368,000 after acquiring an additional 744 shares during the period. 63.89% of the stock is owned by hedge funds and other institutional investors.
In other news, insider David Pendarvis sold 2,810 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $106.20, for a total transaction of $298,422.00. Following the transaction, the insider now owns 101,893 shares in the company, valued at $10,821,036.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $107.45, for a total transaction of $214,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 12,820 shares of company stock worth $1,404,924. Corporate insiders own 1.24% of the company’s stock.
Shares of ResMed stock opened at $105.19 on Wednesday. ResMed Inc. has a one year low of $81.52 and a one year high of $116.64. The company has a quick ratio of 1.91, a current ratio of 2.58 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $14.83 billion, a price-to-earnings ratio of 29.80, a PEG ratio of 2.64 and a beta of 0.87.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. ResMed had a net margin of 13.94% and a return on equity of 26.29%. The firm had revenue of $588.28 million for the quarter, compared to the consensus estimate of $576.66 million. On average, sell-side analysts anticipate that ResMed Inc. will post 3.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th will be issued a dividend of $0.37 per share. The ex-dividend date is Wednesday, November 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.41%. ResMed’s dividend payout ratio (DPR) is currently 41.93%.
A number of analysts recently weighed in on RMD shares. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Tuesday, July 10th. BMO Capital Markets upped their price objective on shares of ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research note on Friday, October 26th. Finally, Credit Suisse Group raised shares of ResMed from a “neutral” rating to an “outperform” rating in a research note on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $114.50.
ResMed Company Profile
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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