State of Wisconsin Investment Board Buys 7,874 Shares of ResMed Inc. (RMD)
State of Wisconsin Investment Board grew its stake in ResMed Inc. (NYSE:RMD) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,803 shares of the medical equipment provider’s stock after purchasing an additional 7,874 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.09% of ResMed worth $9,990,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of ResMed by 18.5% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 22,032 shares of the medical equipment provider’s stock valued at $1,696,000 after purchasing an additional 3,432 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of ResMed by 1.5% in the third quarter. State Board of Administration of Florida Retirement System now owns 224,900 shares of the medical equipment provider’s stock valued at $17,308,000 after purchasing an additional 3,330 shares in the last quarter. Andra AP fonden lifted its holdings in shares of ResMed by 46.6% in the third quarter. Andra AP fonden now owns 41,200 shares of the medical equipment provider’s stock valued at $3,171,000 after purchasing an additional 13,100 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of ResMed by 5,344.3% in the third quarter. Canada Pension Plan Investment Board now owns 83,406 shares of the medical equipment provider’s stock valued at $6,419,000 after purchasing an additional 81,874 shares in the last quarter. Finally, BP PLC bought a new position in shares of ResMed in the third quarter valued at approximately $1,308,000. Institutional investors own 58.86% of the company’s stock.
A number of research firms have recently weighed in on RMD. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Northland Securities reiterated a “sell” rating and set a $55.00 price target on shares of ResMed in a report on Friday, October 27th. Jefferies Group LLC reiterated a “sell” rating and set a $56.00 price target on shares of ResMed in a report on Thursday, October 12th. Finally, BMO Capital Markets lifted their price target on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.57.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $77.56, for a total value of $96,950.00. Following the sale, the chief financial officer now directly owns 65,941 shares in the company, valued at $5,114,383.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Pendarvis sold 6,364 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $77.21, for a total value of $491,364.44. Following the completion of the sale, the insider now owns 93,172 shares in the company, valued at $7,193,810.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 201,234 shares of company stock worth $16,339,637. Corporate insiders own 1.77% of the company’s stock.
Shares of ResMed Inc. (NYSE RMD) opened at $84.98 on Friday. The stock has a market capitalization of $11,955.40, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.87 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.72 and a quick ratio of 3.86. ResMed Inc. has a one year low of $57.45 and a one year high of $87.81.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $523.66 million for the quarter, compared to analyst estimates of $506.08 million. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The business’s revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. equities research analysts predict that ResMed Inc. will post 3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Thursday, November 9th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, November 8th. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. ResMed’s payout ratio is presently 56.68%.
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.
Receive News & Stock Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related stocks with our FREE daily email newsletter.