Guggenheim Capital LLC lifted its holdings in shares of ResMed Inc. (NYSE:RMD) by 46.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 722,480 shares of the medical equipment provider’s stock after buying an additional 229,030 shares during the quarter. Guggenheim Capital LLC’s holdings in ResMed were worth $61,184,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of ResMed by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 1,730,716 shares of the medical equipment provider’s stock worth $146,312,000 after buying an additional 75,419 shares during the period. Congress Asset Management Co. MA boosted its stake in shares of ResMed by 2.2% during the fourth quarter. Congress Asset Management Co. MA now owns 1,078,645 shares of the medical equipment provider’s stock worth $91,350,000 after buying an additional 23,714 shares during the period. Legal & General Group Plc boosted its stake in shares of ResMed by 0.7% during the third quarter. Legal & General Group Plc now owns 765,271 shares of the medical equipment provider’s stock worth $58,892,000 after buying an additional 5,169 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of ResMed by 4.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 689,671 shares of the medical equipment provider’s stock worth $58,409,000 after buying an additional 28,691 shares during the period. Finally, American Capital Management Inc. raised its holdings in ResMed by 0.6% during the fourth quarter. American Capital Management Inc. now owns 660,818 shares of the medical equipment provider’s stock worth $55,965,000 after purchasing an additional 3,976 shares in the last quarter. Institutional investors and hedge funds own 62.40% of the company’s stock.
In other ResMed news, insider James Hollingshead sold 600 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $84.96, for a total value of $50,976.00. Following the completion of the transaction, the insider now directly owns 62,602 shares of the company’s stock, valued at $5,318,665.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider David Pendarvis sold 2,810 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $94.08, for a total transaction of $264,364.80. Following the completion of the transaction, the insider now directly owns 97,263 shares of the company’s stock, valued at $9,150,503.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,139 shares of company stock valued at $4,398,906. 1.77% of the stock is currently owned by corporate insiders.
ResMed Inc. (NYSE RMD) opened at $98.89 on Wednesday. The stock has a market cap of $14,226.96, a PE ratio of 31.70 and a beta of 0.94. ResMed Inc. has a 1-year low of $67.04 and a 1-year high of $104.78.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.22. ResMed had a net margin of 12.98% and a return on equity of 22.75%. The firm had revenue of $601.27 million during the quarter, compared to analysts’ expectations of $583.77 million. During the same period in the prior year, the company posted $0.73 earnings per share. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. analysts anticipate that ResMed Inc. will post 3.34 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 8th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $1.40 dividend on an annualized basis and a yield of 1.42%. ResMed’s dividend payout ratio (DPR) is presently 70.00%.
Several research analysts recently issued reports on RMD shares. Zacks Investment Research cut shares of ResMed from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. BMO Capital Markets increased their price target on shares of ResMed to $82.00 and gave the stock a “market perform” rating in a report on Tuesday, December 12th. Macquarie cut shares of ResMed from a “neutral” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Northland Securities raised shares of ResMed from an “under perform” rating to a “market perform” rating in a report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $75.17.
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ResMed Company Profile
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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