Citizens Financial Group Inc. RI Buys 218 Shares of ResMed Inc. $RMD

Citizens Financial Group Inc. RI grew its stake in shares of ResMed Inc. (NYSE:RMD) by 24.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,125 shares of the medical equipment provider’s stock after buying an additional 218 shares during the period. Citizens Financial Group Inc. RI’s holdings in ResMed were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in ResMed by 1.8% in the first quarter. Vanguard Group Inc. now owns 18,493,702 shares of the medical equipment provider’s stock valued at $4,139,815,000 after acquiring an additional 320,240 shares during the last quarter. Geode Capital Management LLC lifted its stake in ResMed by 2.4% during the second quarter. Geode Capital Management LLC now owns 4,215,145 shares of the medical equipment provider’s stock worth $1,083,409,000 after purchasing an additional 98,717 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of ResMed by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,744,541 shares of the medical equipment provider’s stock worth $390,516,000 after purchasing an additional 41,951 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of ResMed by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 998,128 shares of the medical equipment provider’s stock valued at $223,431,000 after purchasing an additional 41,108 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of ResMed by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 977,401 shares of the medical equipment provider’s stock valued at $218,791,000 after buying an additional 22,789 shares in the last quarter. 54.98% of the stock is owned by institutional investors.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 8,011 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $249.75, for a total transaction of $2,000,747.25. Following the transaction, the chief executive officer directly owned 467,866 shares of the company’s stock, valued at approximately $116,849,533.50. The trade was a 1.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $252.05, for a total transaction of $504,100.00. Following the completion of the transaction, the director owned 66,110 shares of the company’s stock, valued at $16,663,025.50. This trade represents a 2.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 18,607 shares of company stock worth $4,919,501. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RMD. William Blair upgraded ResMed to a “strong-buy” rating in a research report on Friday, August 1st. Wall Street Zen lowered shares of ResMed from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Weiss Ratings cut shares of ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, November 14th. Citigroup started coverage on shares of ResMed in a research report on Thursday, September 18th. They issued a “buy” rating and a $330.00 target price on the stock. Finally, Piper Sandler upped their price target on shares of ResMed from $248.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.45.

ResMed Stock Down 0.4%

NYSE RMD opened at $245.18 on Thursday. ResMed Inc. has a 1 year low of $199.92 and a 1 year high of $293.81. The stock has a market capitalization of $35.78 billion, a PE ratio of 25.78, a PEG ratio of 1.75 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.44 and a quick ratio of 2.53. The business’s 50-day moving average is $264.42 and its 200 day moving average is $263.15.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, October 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.06. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.33 billion. ResMed had a return on equity of 25.62% and a net margin of 27.22%.ResMed’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.20 EPS. Sell-side analysts forecast that ResMed Inc. will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, November 13th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $2.40 dividend on an annualized basis and a yield of 1.0%. ResMed’s dividend payout ratio (DPR) is presently 24.56%.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.