Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in ResMed Inc. (NYSE:RMD) by 18.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,032 shares of the medical equipment provider’s stock after buying an additional 3,432 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ResMed were worth $1,696,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. State Board of Administration of Florida Retirement System raised its position in ResMed by 1.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 224,900 shares of the medical equipment provider’s stock worth $17,308,000 after buying an additional 3,330 shares during the last quarter. Andra AP fonden raised its position in ResMed by 46.6% in the 3rd quarter. Andra AP fonden now owns 41,200 shares of the medical equipment provider’s stock worth $3,171,000 after buying an additional 13,100 shares during the last quarter. Canada Pension Plan Investment Board raised its position in ResMed by 5,344.3% in the 3rd quarter. Canada Pension Plan Investment Board now owns 83,406 shares of the medical equipment provider’s stock worth $6,419,000 after buying an additional 81,874 shares during the last quarter. BP PLC purchased a new position in ResMed in the 3rd quarter worth about $1,308,000. Finally, New York State Teachers Retirement System raised its position in ResMed by 3.7% in the 3rd quarter. New York State Teachers Retirement System now owns 229,705 shares of the medical equipment provider’s stock worth $17,678,000 after buying an additional 8,217 shares during the last quarter. 58.86% of the stock is owned by institutional investors and hedge funds.
Shares of ResMed Inc. (NYSE:RMD) opened at $83.06 on Monday. The stock has a market capitalization of $11,786.54, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.85 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. ResMed Inc. has a 52 week low of $57.45 and a 52 week high of $87.81.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The company had revenue of $523.66 million during the quarter, compared to the consensus estimate of $506.08 million. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 EPS. equities research analysts anticipate that ResMed Inc. will post 3 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.69%. ResMed’s dividend payout ratio (DPR) is presently 56.68%.
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In related news, Director Peter C. Farrell sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $76.74, for a total transaction of $1,534,800.00. Following the completion of the transaction, the director now directly owns 314,800 shares in the company, valued at approximately $24,157,752. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $77.56, for a total value of $96,950.00. Following the transaction, the chief financial officer now owns 65,941 shares of the company’s stock, valued at $5,114,383.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,842 shares of company stock valued at $6,548,619. 1.77% of the stock is currently owned by corporate insiders.
A number of equities analysts have weighed in on RMD shares. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Thursday, October 12th. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. BMO Capital Markets boosted their price target on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, August 2nd. Finally, Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $67.57.
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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