RPG Investment Advisory LLC increased its position in shares of ResMed Inc. (NYSE:RMD) by 1.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,831 shares of the medical equipment provider’s stock after buying an additional 727 shares during the quarter. RPG Investment Advisory LLC’s holdings in ResMed were worth $5,077,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in RMD. Oregon Public Employees Retirement Fund grew its stake in ResMed by 15,868.5% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock worth $46,000 after buying an additional 5,241,994 shares during the last quarter. WCM Investment Management LLC acquired a new stake in ResMed during the 4th quarter worth approximately $492,415,000. Norges Bank acquired a new stake in ResMed during the 4th quarter worth approximately $140,077,000. BlackRock Inc. lifted its holdings in shares of ResMed by 5.2% in the 4th quarter. BlackRock Inc. now owns 11,764,243 shares of the medical equipment provider’s stock valued at $1,339,597,000 after buying an additional 583,831 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of ResMed by 151.5% in the 3rd quarter. AQR Capital Management LLC now owns 889,450 shares of the medical equipment provider’s stock valued at $102,590,000 after buying an additional 535,803 shares during the period. Hedge funds and other institutional investors own 67.94% of the company’s stock.
In other ResMed news, insider David Pendarvis sold 4,367 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $112.58, for a total transaction of $491,636.86. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider James Hollingshead sold 1,600 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $102.80, for a total transaction of $164,480.00. Following the completion of the transaction, the insider now directly owns 82,057 shares in the company, valued at $8,435,459.60. The disclosure for this sale can be found here. Insiders have sold a total of 76,669 shares of company stock valued at $7,845,855 in the last quarter. Insiders own 1.24% of the company’s stock.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. ResMed had a return on equity of 26.46% and a net margin of 17.65%. The company had revenue of $662.23 million during the quarter, compared to the consensus estimate of $657.82 million. During the same quarter in the prior year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that ResMed Inc. will post 3.59 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be given a dividend of $0.37 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.32%. ResMed’s dividend payout ratio (DPR) is presently 41.93%.
Several research firms recently weighed in on RMD. ValuEngine raised ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Deutsche Bank raised ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a research note on Friday, March 29th. JPMorgan Chase & Co. raised ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 price objective for the company in a research note on Thursday, April 18th. Finally, Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. ResMed presently has a consensus rating of “Buy” and an average price target of $112.50.
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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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