ResMed Inc. (NYSE:RMD) Shares Bought by Security National Bank
Security National Bank raised its stake in ResMed Inc. (NYSE:RMD) by 2.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,576 shares of the medical equipment provider’s stock after acquiring an additional 824 shares during the period. ResMed accounts for approximately 2.4% of Security National Bank’s portfolio, making the stock its 10th largest position. Security National Bank’s holdings in ResMed were worth $8,261,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RMD. Morgan Stanley boosted its stake in ResMed by 32.8% in the third quarter. Morgan Stanley now owns 387,217 shares of the medical equipment provider’s stock valued at $66,380,000 after acquiring an additional 95,654 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in ResMed by 25.0% in the third quarter. Public Sector Pension Investment Board now owns 17,478 shares of the medical equipment provider’s stock valued at $2,996,000 after acquiring an additional 3,500 shares in the last quarter. Engineers Gate Manager LP acquired a new position in ResMed in the third quarter valued at $735,000. Squarepoint Ops LLC acquired a new position in ResMed in the third quarter valued at $5,115,000. Finally, Lombard Odier Asset Management Switzerland SA acquired a new position in ResMed in the third quarter valued at $325,000. Institutional investors own 68.64% of the company’s stock.
NYSE RMD traded up $0.42 during trading hours on Thursday, hitting $197.54. 2,527 shares of the stock were exchanged, compared to its average volume of 670,034. The company has a market cap of $28.74 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 2.86 and a beta of 0.28. ResMed Inc. has a 12-month low of $149.16 and a 12-month high of $224.43. The stock has a 50-day moving average of $191.34 and a 200 day moving average of $198.47. The company has a quick ratio of 1.80, a current ratio of 2.61 and a debt-to-equity ratio of 0.39.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 18th. Investors of record on Thursday, February 11th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Wednesday, February 10th. This represents a $1.56 annualized dividend and a yield of 0.79%. ResMed’s dividend payout ratio is currently 32.77%.
In other ResMed news, insider David Pendarvis sold 1,487 shares of the company’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $196.15, for a total transaction of $291,675.05. Following the transaction, the insider now directly owns 129,294 shares in the company, valued at $25,361,018.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $218.70, for a total transaction of $546,750.00. Following the transaction, the chief financial officer now owns 100,600 shares in the company, valued at $22,001,220. The disclosure for this sale can be found here. Insiders have sold 19,506 shares of company stock valued at $3,893,437 over the last three months. 1.33% of the stock is currently owned by corporate insiders.
RMD has been the subject of a number of research reports. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “hold” rating and set a $222.00 target price for the company. in a report on Wednesday, December 30th. Needham & Company LLC raised shares of ResMed from a “hold” rating to a “buy” rating and set a $229.00 target price for the company in a report on Monday, March 22nd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. ResMed has a consensus rating of “Hold” and an average target price of $199.71.
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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