ResMed Inc. (RMD) Stake Boosted by Wealthsource Partners LLC
Wealthsource Partners LLC increased its holdings in shares of ResMed Inc. (NYSE:RMD) by 17.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,150 shares of the medical equipment provider’s stock after buying an additional 1,080 shares during the period. Wealthsource Partners LLC’s holdings in ResMed were worth $550,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sawtooth Solutions LLC increased its stake in ResMed by 1.6% during the 2nd quarter. Sawtooth Solutions LLC now owns 3,167 shares of the medical equipment provider’s stock worth $247,000 after buying an additional 49 shares during the period. YorkBridge Wealth Partners LLC increased its stake in ResMed by 4.9% during the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 69 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in ResMed by 2.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,489 shares of the medical equipment provider’s stock worth $272,000 after buying an additional 82 shares during the period. Toronto Dominion Bank increased its stake in ResMed by 12.8% during the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 197 shares during the period. Finally, Utah Retirement Systems increased its stake in ResMed by 0.8% during the 2nd quarter. Utah Retirement Systems now owns 25,583 shares of the medical equipment provider’s stock worth $1,992,000 after buying an additional 200 shares during the period. 62.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $77.05, for a total value of $96,312.50. Following the completion of the transaction, the chief financial officer now owns 64,691 shares in the company, valued at approximately $4,984,441.55. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider David Pendarvis sold 6,364 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $76.94, for a total transaction of $489,646.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,693 shares of company stock valued at $15,149,955. Company insiders own 1.77% of the company’s stock.
Shares of ResMed Inc. (NYSE RMD) traded down $0.83 during trading hours on Thursday, hitting $85.01. 656,600 shares of the company’s stock were exchanged, compared to its average volume of 846,192. ResMed Inc. has a 52 week low of $60.13 and a 52 week high of $87.81. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. The stock has a market cap of $12,010.00, a P/E ratio of 29.91, a PEG ratio of 1.89 and a beta of 0.78.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The company had revenue of $523.66 million for the quarter, compared to the consensus estimate of $506.08 million. During the same period in the prior year, the firm posted $0.62 EPS. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. research analysts expect that ResMed Inc. will post 3.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 9th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, November 8th. ResMed’s payout ratio is 56.68%.
A number of equities research analysts have commented on the stock. BMO Capital Markets increased their price objective on shares of ResMed to $82.00 and gave the company a “market perform” rating in a research report on Tuesday. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. J P Morgan Chase & Co increased their price objective on shares of ResMed from $72.00 to $73.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research report on Friday, September 8th. Finally, Barclays increased their price objective on shares of ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a research report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $68.71.
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ResMed Company Profile
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.
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