Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of ResMed Inc. (NYSE:RMD - Free Report) by 435.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,594 shares of the medical equipment provider's stock after purchasing an additional 19,184 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in ResMed were worth $5,760,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in RMD. UMB Bank n.a. raised its stake in ResMed by 1.9% during the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider's stock valued at $602,000 after buying an additional 47 shares during the last quarter. QRG Capital Management Inc. increased its holdings in shares of ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider's stock valued at $247,000 after acquiring an additional 56 shares in the last quarter. Inspire Advisors LLC raised its position in shares of ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider's stock worth $586,000 after purchasing an additional 56 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider's stock worth $469,000 after purchasing an additional 57 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC grew its position in ResMed by 2.0% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider's stock valued at $743,000 after purchasing an additional 60 shares during the last quarter. 54.98% of the stock is owned by institutional investors.
In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company's stock, valued at $115,290,296.22. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares of the company's stock, valued at approximately $5,502,777.28. This trade represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,174 shares of company stock worth $14,882,278. Corporate insiders own 0.71% of the company's stock.
NYSE RMD opened at $243.78 on Friday. The company has a 50-day moving average price of $241.86 and a 200-day moving average price of $224.42. ResMed Inc. has a 52 week low of $151.95 and a 52 week high of $260.49. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $35.79 billion, a P/E ratio of 32.29, a PEG ratio of 1.73 and a beta of 0.69.
ResMed (NYSE:RMD - Get Free Report) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm's revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 earnings per share. Equities research analysts anticipate that ResMed Inc. will post 9.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 7th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed's dividend payout ratio (DPR) is presently 28.08%.
Several brokerages have recently issued reports on RMD. Bank of America upped their target price on shares of ResMed from $240.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Needham & Company LLC reiterated a "hold" rating on shares of ResMed in a research note on Friday, October 25th. KeyCorp boosted their price target on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Baird R W raised ResMed to a "strong-buy" rating in a research report on Tuesday, September 24th. Finally, Wolfe Research reissued an "underperform" rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.70.
View Our Latest Analysis on RMD
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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