Pictet Asset Management Ltd. decreased its position in ResMed Inc. (NYSE:RMD) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,306 shares of the medical equipment provider’s stock after selling 5,300 shares during the quarter. Pictet Asset Management Ltd. owned approximately 0.05% of ResMed worth $8,916,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in RMD. Schroder Investment Management Group raised its position in shares of ResMed by 185.9% in the third quarter. Schroder Investment Management Group now owns 468,020 shares of the medical equipment provider’s stock valued at $53,981,000 after purchasing an additional 304,320 shares during the period. BlackRock Inc. raised its position in shares of ResMed by 2.1% in the third quarter. BlackRock Inc. now owns 11,180,412 shares of the medical equipment provider’s stock valued at $1,289,550,000 after purchasing an additional 226,612 shares during the period. Morgan Stanley raised its position in shares of ResMed by 30.2% in the second quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock valued at $100,135,000 after purchasing an additional 223,963 shares during the period. Canada Pension Plan Investment Board raised its position in shares of ResMed by 209.7% in the second quarter. Canada Pension Plan Investment Board now owns 260,806 shares of the medical equipment provider’s stock valued at $27,014,000 after purchasing an additional 176,589 shares during the period. Finally, NN Investment Partners Holdings N.V. raised its position in shares of ResMed by 510.1% in the third quarter. NN Investment Partners Holdings N.V. now owns 174,686 shares of the medical equipment provider’s stock valued at $20,149,000 after purchasing an additional 146,054 shares during the period. 65.02% of the stock is currently owned by institutional investors.
In related news, CFO Brett Sandercock sold 2,000 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $101.44, for a total transaction of $202,880.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Hollingshead sold 600 shares of the business’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $112.09, for a total transaction of $67,254.00. Following the transaction, the insider now directly owns 83,689 shares in the company, valued at approximately $9,380,700.01. The disclosure for this sale can be found here. Insiders have sold 30,720 shares of company stock worth $3,290,532 in the last ninety days. 1.24% of the stock is currently owned by insiders.
A number of research firms have recently commented on RMD. BMO Capital Markets lifted their price target on shares of ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. Credit Suisse Group raised shares of ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have issued 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 a consensus target price of $114.50.
NYSE:RMD opened at $109.99 on Friday. ResMed Inc. has a 12 month low of $83.88 and a 12 month high of $116.64. The company has a market capitalization of $16.01 billion, a PE ratio of 30.53, a PEG ratio of 2.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.91 and a current ratio of 2.58.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, beating the Zacks’ 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 company had revenue of $588.28 million for the quarter, compared to analyst estimates of $576.66 million. Analysts predict that ResMed Inc. will post 3.69 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 8th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Wednesday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 41.93%.
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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