Wealth Enhancement Advisory Services LLC raised its holdings in ResMed Inc. (NYSE:RMD) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,815 shares of the medical equipment provider’s stock after acquiring an additional 499 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in ResMed were worth $6,684,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of ResMed in the 4th quarter valued at $229,587,000. Ownership Capital B.V. bought a new stake in shares of ResMed during the 1st quarter worth about $174,082,000. Hsbc Holdings PLC increased its holdings in shares of ResMed by 235.2% during the 4th quarter. Hsbc Holdings PLC now owns 501,204 shares of the medical equipment provider’s stock valued at $105,514,000 after acquiring an additional 351,668 shares during the last quarter. BlackRock Inc. raised its stake in shares of ResMed by 1.8% in the 4th quarter. BlackRock Inc. now owns 13,521,528 shares of the medical equipment provider’s stock valued at $2,874,136,000 after acquiring an additional 240,047 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of ResMed by 39.4% in the 4th quarter. Nuveen Asset Management LLC now owns 780,962 shares of the medical equipment provider’s stock valued at $166,002,000 after acquiring an additional 220,893 shares in the last quarter. 67.26% of the stock is owned by institutional investors.
ResMed stock traded down $2.59 during trading hours on Friday, hitting $217.94. The stock had a trading volume of 3,353 shares, compared to its average volume of 638,924. The company’s 50-day simple moving average is $201.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.12 and a current ratio of 1.67. ResMed Inc. has a fifty-two week low of $157.08 and a fifty-two week high of $224.43. The stock has a market cap of $31.71 billion, a P/E ratio of 70.46, a PEG ratio of 2.87 and a beta of 0.29.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, May 12th. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. ResMed’s dividend payout ratio (DPR) is currently 32.77%.
In other ResMed news, insider David Pendarvis sold 1,487 shares of the company’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $196.15, for a total value of $291,675.05. Following the sale, the insider now directly owns 129,294 shares in the company, valued at $25,361,018.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Robert Andrew Douglas sold 1,081 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $185.48, for a total value of $200,503.88. Following the completion of the sale, the chief operating officer now owns 16,701 shares in the company, valued at $3,097,701.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,719 shares of company stock worth $5,282,179. 1.33% of the stock is owned by company insiders.
RMD has been the topic of a number of recent analyst reports. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Tuesday, May 11th. JPMorgan Chase & Co. upgraded shares of ResMed from a “neutral” rating to an “overweight” rating and upped their price target for the company from $206.00 to $219.00 in a report on Friday, May 21st. CLSA raised ResMed from a “sell” rating to an “outperform” rating in a research report on Wednesday. Finally, Needham & Company LLC raised ResMed from a “hold” rating to a “buy” rating and set a $229.00 price objective for the company in a research report on Tuesday, March 16th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $207.43.
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.
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