Gateway Investment Advisers LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 6.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,700 shares of the medical equipment provider’s stock after selling 7,426 shares during the quarter. Gateway Investment Advisers LLC owned 0.08% of ResMed worth $12,029,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Retirement Systems of Alabama lifted its position in ResMed by 312.5% in the fourth quarter. Retirement Systems of Alabama now owns 271,524 shares of the medical equipment provider’s stock worth $30,918,000 after buying an additional 205,700 shares during the last quarter. Hsbc Holdings PLC lifted its position in ResMed by 28.4% in the fourth quarter. Hsbc Holdings PLC now owns 129,061 shares of the medical equipment provider’s stock worth $14,661,000 after buying an additional 28,515 shares during the last quarter. Oakbrook Investments LLC bought a new stake in ResMed in the fourth quarter worth $851,000. Chicago Equity Partners LLC lifted its position in ResMed by 503.8% in the fourth quarter. Chicago Equity Partners LLC now owns 58,930 shares of the medical equipment provider’s stock worth $6,710,000 after buying an additional 49,170 shares during the last quarter. Finally, BB&T Securities LLC lifted its position in ResMed by 65.8% in the fourth quarter. BB&T Securities LLC now owns 27,895 shares of the medical equipment provider’s stock worth $3,175,000 after buying an additional 11,069 shares during the last quarter. 68.07% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Rajwant Sodhi sold 16,739 shares of ResMed stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $101.50, for a total value of $1,699,008.50. Following the completion of the sale, the insider now directly owns 25,639 shares in the company, valued at $2,602,358.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Hollingshead sold 1,600 shares of ResMed stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $102.80, for a total value of $164,480.00. Following the completion of the sale, the insider now owns 82,057 shares of the company’s stock, valued at $8,435,459.60. The disclosure for this sale can be found here. Insiders sold 76,759 shares of company stock valued at $7,770,947 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.
ResMed (NYSE:RMD) last released its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company earned $0.92 earnings per share. As a group, equities research analysts predict that ResMed Inc. will post 3.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 9th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.48 annualized dividend and a dividend yield of 1.31%. ResMed’s payout ratio is currently 41.93%.
RMD has been the subject of a number of analyst reports. Deutsche Bank downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Wednesday, January 23rd. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. downgraded ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price for the company. in a research report on Friday, January 25th. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.33.
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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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