Great West Life Assurance Co. Can reduced its position in shares of ResMed Inc. (NYSE:RMD) by 29.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,605 shares of the medical equipment provider’s stock after selling 52,168 shares during the period. Great West Life Assurance Co. Can owned about 0.09% of ResMed worth $9,392,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of ResMed by 6.8% during the second quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock worth $1,108,877,000 after buying an additional 904,939 shares during the period. Vanguard Group Inc. boosted its position in shares of ResMed by 3.3% during the second quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock worth $927,797,000 after buying an additional 378,964 shares during the period. FMR LLC boosted its position in shares of ResMed by 38.2% during the second quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock worth $431,601,000 after buying an additional 1,531,772 shares during the period. Baillie Gifford & Co. boosted its position in shares of ResMed by 0.9% during the third quarter. Baillie Gifford & Co. now owns 4,913,626 shares of the medical equipment provider’s stock worth $378,154,000 after buying an additional 44,340 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of ResMed by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 2,266,663 shares of the medical equipment provider’s stock worth $176,505,000 after buying an additional 25,925 shares during the period. Institutional investors and hedge funds own 62.02% of the company’s stock.
In other ResMed news, insider David Pendarvis sold 6,364 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $76.94, for a total value of $489,646.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $77.01, for a total value of $1,540,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 184,693 shares of company stock worth $15,149,955. 1.77% of the stock is owned by insiders.
ResMed (NYSE:RMD) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $523.66 million during the quarter, compared to analyst estimates of $506.08 million. ResMed had a return on equity of 21.53% and a net margin of 16.58%. ResMed’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. equities analysts anticipate that ResMed Inc. will post 3 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, November 8th. ResMed’s dividend payout ratio is presently 56.68%.
RMD has been the subject of several research analyst reports. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research report on Thursday, October 12th. Northland Securities restated a “sell” rating and set a $55.00 price target on shares of ResMed in a research report on Friday, October 27th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research report on Friday, September 8th. J P Morgan Chase & Co raised their price target on ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, Barclays lifted their target price on ResMed from $65.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, September 25th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $67.57.
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ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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