Gulf International Bank UK Ltd raised its holdings in ResMed Inc. (NYSE:RMD) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,541 shares of the medical equipment provider’s stock after buying an additional 1,843 shares during the period. Gulf International Bank UK Ltd’s holdings in ResMed were worth $5,483,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley lifted its position in ResMed by 30.2% during the second quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock valued at $100,135,000 after purchasing an additional 223,963 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of ResMed by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 813,087 shares of the medical equipment provider’s stock worth $84,220,000 after buying an additional 87,893 shares during the period. Swiss National Bank increased its stake in shares of ResMed by 3.9% in the second quarter. Swiss National Bank now owns 472,000 shares of the medical equipment provider’s stock worth $48,890,000 after buying an additional 17,600 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of ResMed by 6.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 452,439 shares of the medical equipment provider’s stock worth $46,864,000 after buying an additional 29,375 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of ResMed by 1,082.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 445,260 shares of the medical equipment provider’s stock worth $46,120,000 after buying an additional 407,590 shares during the period. 65.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the stock. BMO Capital Markets boosted their price objective on shares of ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. Credit Suisse Group raised shares of ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $114.50.
ResMed stock traded up $1.24 during mid-day trading on Monday, reaching $113.03. The stock had a trading volume of 785,418 shares, compared to its average volume of 705,577. The stock has a market cap of $15.93 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.85 and a beta of 1.01. ResMed Inc. has a one year low of $83.57 and a one year high of $116.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.58 and a quick ratio of 1.91.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. The company had revenue of $588.28 million for the quarter, compared to analysts’ expectations of $576.66 million. ResMed had a net margin of 13.94% and a return on equity of 26.29%. On average, equities analysts expect that ResMed Inc. will post 3.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 8th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, November 7th. ResMed’s dividend payout ratio is currently 41.93%.
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ResMed Company Profile
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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