Mount Yale Investment Advisors LLC trimmed its position in ResMed Inc. (NYSE:RMD – Get Rating) by 18.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 15,185 shares of the medical equipment provider’s stock after selling 3,547 shares during the period. Mount Yale Investment Advisors LLC’s holdings in ResMed were worth $3,315,000 as of its most recent filing with the SEC.
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Several other hedge funds also recently modified their holdings of the company. FMR LLC raised its position in shares of ResMed by 7.7% during the second quarter. FMR LLC now owns 7,519,624 shares of the medical equipment provider’s stock worth $1,576,339,000 after acquiring an additional 535,742 shares during the last quarter. Legal & General Group Plc lifted its position in shares of ResMed by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 1,157,528 shares of the medical equipment provider’s stock worth $242,656,000 after purchasing an additional 22,794 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of ResMed by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 754,358 shares of the medical equipment provider’s stock valued at $182,940,000 after purchasing an additional 3,521 shares during the last quarter. Swiss National Bank increased its position in shares of ResMed by 0.5% during the second quarter. Swiss National Bank now owns 634,331 shares of the medical equipment provider’s stock worth $132,975,000 after buying an additional 3,200 shares during the period. Finally, Capital Research Global Investors lifted its holdings in ResMed by 83.1% in the first quarter. Capital Research Global Investors now owns 557,558 shares of the medical equipment provider’s stock valued at $135,213,000 after buying an additional 253,121 shares during the period. Institutional investors and hedge funds own 64.73% of the company’s stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on RMD shares. Royal Bank of Canada lifted their price objective on ResMed from $252.00 to $254.00 and gave the stock a “sector perform” rating in a research report on Friday, October 28th. Jefferies Financial Group assumed coverage on ResMed in a research note on Wednesday, October 12th. They issued a “hold” rating and a $245.00 price target on the stock. Bank of America raised shares of ResMed from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $245.00 to $260.00 in a research report on Thursday, October 20th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 18th. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $265.57.
Insider Transactions at ResMed
In related news, COO Robert Andrew Douglas sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $220.43, for a total transaction of $330,645.00. Following the sale, the chief operating officer now directly owns 226,208 shares in the company, valued at approximately $49,863,029.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other ResMed news, insider Lucile Blaise sold 169 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $225.18, for a total value of $38,055.42. Following the sale, the insider now directly owns 7,335 shares in the company, valued at approximately $1,651,695.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Robert Andrew Douglas sold 1,500 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $220.43, for a total transaction of $330,645.00. Following the transaction, the chief operating officer now owns 226,208 shares of the company’s stock, valued at $49,863,029.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,226 shares of company stock worth $12,439,247. 1.39% of the stock is owned by company insiders.
ResMed Stock Down 3.2 %
ResMed stock traded down $7.41 during trading on Friday, hitting $224.76. 339,332 shares of the company were exchanged, compared to its average volume of 670,318. The company has a market capitalization of $32.92 billion, a P/E ratio of 43.40, a PEG ratio of 1.50 and a beta of 0.50. The company has a current ratio of 2.94, a quick ratio of 1.69 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $219.26 and its 200 day moving average is $223.28. ResMed Inc. has a 52 week low of $189.40 and a 52 week high of $262.38.
ResMed (NYSE:RMD – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The medical equipment provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $996.22 million. ResMed had a return on equity of 25.75% and a net margin of 21.70%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 EPS. Analysts predict that ResMed Inc. will post 6.44 earnings per share for the current year.
ResMed Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 16th. Stockholders of record on Thursday, February 9th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.78%. ResMed’s payout ratio is 32.90%.
ResMed Company 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
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