Marshall Wace LLP Boosts Holdings in ResMed Inc. (RMD)
Marshall Wace LLP boosted its stake in ResMed Inc. (NYSE:RMD) by 459.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 357,549 shares of the medical equipment provider’s stock after purchasing an additional 293,582 shares during the quarter. Marshall Wace LLP’s holdings in ResMed were worth $41,240,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd grew its holdings in shares of ResMed by 245.4% during the third quarter. Harvest Fund Management Co. Ltd now owns 905 shares of the medical equipment provider’s stock valued at $104,000 after buying an additional 643 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of ResMed by 144.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,018 shares of the medical equipment provider’s stock valued at $117,000 after buying an additional 602 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of ResMed during the second quarter valued at about $148,000. Cerebellum GP LLC acquired a new position in shares of ResMed during the third quarter valued at about $186,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of ResMed during the second quarter valued at about $167,000. Institutional investors and hedge funds own 65.02% of the company’s stock.
A number of research analysts have recently issued reports on RMD shares. Credit Suisse Group upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. BMO Capital Markets raised their price target on shares of ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $114.50.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.80 by $0.01. The business had revenue of $588.28 million for the quarter, compared to analyst estimates of $576.66 million. ResMed had a net margin of 13.94% and a return on equity of 26.29%. Analysts forecast that ResMed Inc. will post 3.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 8th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, November 7th. ResMed’s dividend payout ratio is 41.93%.
In other ResMed news, CFO Brett Sandercock sold 2,000 shares of ResMed stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $101.44, for a total value of $202,880.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider James Hollingshead sold 600 shares of ResMed stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $115.88, for a total transaction of $69,528.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,720 shares of company stock worth $3,290,532. Insiders own 1.24% of the company’s stock.
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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