Schwab Charles Investment Management Inc. increased its holdings in ResMed Inc. (NYSE:RMD) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 689,671 shares of the medical equipment provider’s stock after acquiring an additional 28,691 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in ResMed were worth $58,409,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in shares of ResMed by 2.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 47,056 shares of the medical equipment provider’s stock worth $3,665,000 after acquiring an additional 1,306 shares in the last quarter. Pittenger & Anderson Inc. lifted its stake in shares of ResMed by 23.5% in the third quarter. Pittenger & Anderson Inc. now owns 12,765 shares of the medical equipment provider’s stock worth $982,000 after acquiring an additional 2,425 shares in the last quarter. American Capital Management Inc. lifted its stake in shares of ResMed by 0.5% in the third quarter. American Capital Management Inc. now owns 656,842 shares of the medical equipment provider’s stock worth $50,551,000 after acquiring an additional 3,508 shares in the last quarter. IFM Investors Pty Ltd acquired a new position in shares of ResMed in the third quarter worth about $341,000. Finally, Toronto Dominion Bank lifted its stake in shares of ResMed by 2,999.2% in the third quarter. Toronto Dominion Bank now owns 53,926 shares of the medical equipment provider’s stock worth $4,150,000 after acquiring an additional 52,186 shares in the last quarter. Institutional investors and hedge funds own 61.83% of the company’s stock.
Shares of ResMed Inc. (RMD) opened at $96.97 on Monday. ResMed Inc. has a one year low of $67.00 and a one year high of $104.78. The stock has a market capitalization of $13,760.00, a P/E ratio of 48.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.92.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 8th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Wednesday, February 7th. ResMed’s payout ratio is currently 70.35%.
Several research firms recently commented on RMD. Northland Securities reiterated a “sell” rating and issued a $55.00 price target on shares of ResMed in a research note on Friday, October 27th. Jefferies Group restated a “sell” rating and set a $56.00 price objective on shares of ResMed in a research note on Thursday, October 12th. Needham & Company LLC upgraded ResMed from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 23rd. BMO Capital Markets upped their price objective on ResMed to $82.00 and gave the company a “market perform” rating in a research note on Tuesday, December 12th. Finally, Macquarie cut ResMed from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. ResMed currently has a consensus rating of “Hold” and a consensus target price of $73.57.
In other news, Director Peter C. Farrell sold 118,392 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $82.70, for a total transaction of $9,791,018.40. Following the sale, the director now directly owns 306,615 shares in the company, valued at approximately $25,357,060.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $85.36, for a total value of $106,700.00. Following the sale, the chief financial officer now owns 79,572 shares in the company, valued at $6,792,265.92. The disclosure for this sale can be found here. Insiders have sold a total of 163,384 shares of company stock worth $14,145,661 over the last quarter. Insiders own 1.77% of the company’s stock.
ResMed Company Profile
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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