B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in ResMed Inc. (NYSE:RMD - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,025 shares of the medical equipment provider's stock, valued at approximately $1,715,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in ResMed by 51.4% in the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider's stock valued at $1,105,022,000 after buying an additional 1,959,642 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider's stock worth $141,694,000 after purchasing an additional 241,195 shares in the last quarter. Greenvale Capital LLP lifted its position in shares of ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider's stock worth $138,780,000 after purchasing an additional 275,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider's stock worth $126,670,000 after purchasing an additional 107,279 shares in the last quarter. Finally, Tandem Investment Advisors Inc. lifted its position in shares of ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider's stock worth $95,976,000 after purchasing an additional 14,590 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now owns 464,169 shares of the company's stock, valued at $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total transaction of $479,800.00. Following the sale, the director now directly owns 87,204 shares of the company's stock, valued at $20,920,239.60. This represents a 2.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,174 shares of company stock valued at $14,882,278. Corporate insiders own 0.71% of the company's stock.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a "sector perform" rating in a research report on Friday, October 25th. Wolfe Research reiterated an "underperform" rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird upped their target price on shares of ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Bank of America increased their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $225.70.
View Our Latest Analysis on ResMed
Shares of NYSE:RMD opened at $243.78 on Friday. ResMed Inc. has a 52 week low of $151.95 and a 52 week high of $260.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The company has a market capitalization of $35.79 billion, a PE ratio of 32.29, a PEG ratio of 1.73 and a beta of 0.69. The company has a 50 day moving average price of $241.86 and a two-hundred day moving average price of $224.42.
ResMed (NYSE:RMD - Get Free Report) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business's quarterly revenue was up 11.1% on a year-over-year basis. Analysts forecast that ResMed Inc. will post 9.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 7th. ResMed's payout ratio is presently 28.08%.
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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