Welch & Forbes LLC boosted its stake in shares of ResMed Inc. (NYSE:RMD) by 13.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,479 shares of the medical equipment provider’s stock after purchasing an additional 36,905 shares during the quarter. Welch & Forbes LLC owned approximately 0.21% of ResMed worth $34,443,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Financial Gravity Companies Inc. acquired a new position in ResMed during the 4th quarter valued at approximately $34,000. Capital Investment Advisory Services LLC bought a new stake in ResMed during the 4th quarter valued at $61,000. Harvest Fund Management Co. Ltd raised its stake in ResMed by 245.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 905 shares of the medical equipment provider’s stock valued at $104,000 after acquiring an additional 643 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in ResMed by 144.7% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,018 shares of the medical equipment provider’s stock valued at $117,000 after acquiring an additional 602 shares in the last quarter. Finally, ETF Managers Group LLC raised its stake in ResMed by 15.7% during the 4th quarter. ETF Managers Group LLC now owns 1,323 shares of the medical equipment provider’s stock valued at $151,000 after acquiring an additional 180 shares in the last quarter. Institutional investors and hedge funds own 68.60% of the company’s stock.
In other news, CEO Michael J. Farrell sold 6,651 shares of the business’s stock in a transaction on Monday, January 14th. The stock was sold at an average price of $113.75, for a total value of $756,551.25. Following the sale, the chief executive officer now owns 292,933 shares of the company’s stock, valued at approximately $33,321,128.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Pendarvis sold 4,457 shares of the business’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $93.50, for a total value of $416,729.50. The disclosure for this sale can be found here. Insiders sold a total of 55,589 shares of company stock worth $5,964,913 in the last three months. Company insiders own 1.24% of the company’s stock.
ResMed stock traded up $0.23 during mid-day trading on Monday, hitting $97.04. 7,207 shares of the company’s stock traded hands, compared to its average volume of 1,532,038. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.44 and a quick ratio of 1.76. The company has a market capitalization of $13.87 billion, a P/E ratio of 27.52, a PEG ratio of 2.57 and a beta of 0.54. ResMed Inc. has a one year low of $87.67 and a one year high of $118.50.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, January 24th. The medical equipment provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.05. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The company had revenue of $651.10 million for the quarter, compared to the consensus estimate of $676.77 million. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, research analysts expect that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 7th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Wednesday, February 6th. ResMed’s dividend payout ratio is presently 41.93%.
Several analysts have weighed in on RMD shares. Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a research note on Friday, October 26th. BMO Capital Markets lifted their target price on ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research note on Friday, October 26th. Deutsche Bank downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. Finally, JPMorgan Chase & Co. downgraded ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price on the stock. in a research note on Friday, January 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $113.20.
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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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