M&T Bank Corp Buys 165 Shares of ResMed Inc. (NYSE:RMD)

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M&T Bank Corp raised its stake in ResMed Inc. (NYSE:RMD) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 45,115 shares of the medical equipment provider’s stock after acquiring an additional 165 shares during the period. M&T Bank Corp’s holdings in ResMed were worth $7,734,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its position in ResMed by 7.0% in the second quarter. BlackRock Inc. now owns 13,203,838 shares of the medical equipment provider’s stock valued at $2,535,139,000 after purchasing an additional 859,377 shares during the last quarter. WCM Investment Management LLC lifted its position in ResMed by 2.6% in the third quarter. WCM Investment Management LLC now owns 8,690,493 shares of the medical equipment provider’s stock valued at $1,489,811,000 after purchasing an additional 221,840 shares during the last quarter. Bank of New York Mellon Corp lifted its position in ResMed by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 1,296,077 shares of the medical equipment provider’s stock valued at $248,847,000 after purchasing an additional 54,252 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in ResMed by 7.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,058,579 shares of the medical equipment provider’s stock valued at $203,247,000 after purchasing an additional 72,576 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in ResMed by 4.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 669,703 shares of the medical equipment provider’s stock valued at $128,583,000 after purchasing an additional 29,833 shares during the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.

In other news, COO Robert Andrew Douglas sold 1,147 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $175.49, for a total value of $201,287.03. Following the sale, the chief operating officer now directly owns 24,620 shares of the company’s stock, valued at $4,320,563.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brett Sandercock sold 2,500 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $175.49, for a total value of $438,725.00. Following the completion of the sale, the chief financial officer now directly owns 86,775 shares in the company, valued at $15,228,144.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,350 shares of company stock worth $5,797,434. 1.33% of the stock is owned by insiders.

Several brokerages have weighed in on RMD. The Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research report on Thursday, August 6th. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating and set a $184.00 target price for the company. in a report on Tuesday, August 11th. Oppenheimer upped their target price on ResMed from $200.00 to $210.00 in a report on Thursday, August 6th. Bank of America upgraded ResMed from an “underperform” rating to a “neutral” rating and set a $186.00 target price for the company in a report on Tuesday, October 27th. Finally, Credit Suisse Group upgraded ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $188.50.

Shares of RMD stock opened at $214.74 on Monday. The stock has a market cap of $31.12 billion, a price-to-earnings ratio of 50.29, a PEG ratio of 2.73 and a beta of 0.38. The business’s fifty day moving average is $184.50 and its 200 day moving average is $178.52. ResMed Inc. has a twelve month low of $108.85 and a twelve month high of $224.24. The company has a quick ratio of 1.84, a current ratio of 2.53 and a debt-to-equity ratio of 0.47.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, October 29th. The medical equipment provider reported $1.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.29. The company had revenue of $751.90 million for the quarter, compared to analysts’ expectations of $709.47 million. ResMed had a return on equity of 30.34% and a net margin of 21.02%. The firm’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. Equities research analysts expect that ResMed Inc. will post 4.75 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Investors of record on Thursday, November 12th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.56 annualized dividend and a yield of 0.73%. ResMed’s payout ratio is 32.77%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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