Coastline Trust Co Grows Position in ResMed Inc. (RMD)
Coastline Trust Co boosted its holdings in ResMed Inc. (NYSE:RMD) by 23.2% in the 4th quarter, Holdings Channel reports. The firm owned 18,005 shares of the medical equipment provider’s stock after purchasing an additional 3,390 shares during the period. Coastline Trust Co’s holdings in ResMed were worth $1,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in RMD. FMR LLC raised its position in ResMed by 38.2% in the 2nd quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock valued at $431,601,000 after purchasing an additional 1,531,772 shares during the last quarter. Koch Industries Inc. raised its position in ResMed by 17,065.2% during the 2nd quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock worth $973,000 after buying an additional 980,053 shares during the last quarter. Vanguard Group Inc. raised its position in ResMed by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock worth $927,797,000 after buying an additional 378,964 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in ResMed by 47.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 660,980 shares of the medical equipment provider’s stock worth $50,870,000 after buying an additional 214,122 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in ResMed by 1,205.7% during the 2nd quarter. Janus Henderson Group PLC now owns 222,648 shares of the medical equipment provider’s stock worth $17,337,000 after buying an additional 205,596 shares during the last quarter. Hedge funds and other institutional investors own 61.81% of the company’s stock.
ResMed Inc. (RMD) opened at $88.73 on Thursday. The company has a market cap of $12,456.32, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. ResMed Inc. has a 12-month low of $62.64 and a 12-month high of $89.10.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. The business had revenue of $523.66 million during the quarter, compared to the consensus estimate of $506.08 million. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. sell-side analysts expect that ResMed Inc. will post 3.04 earnings per share for the current year.
RMD has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Thursday, October 12th. Northland Securities restated a “sell” rating and set a $55.00 price objective on shares of ResMed in a research report on Friday, October 27th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a research report on Friday, October 27th. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Finally, BMO Capital Markets upped their price objective on shares of ResMed to $82.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $70.57.
In other news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $84.50, for a total value of $105,625.00. Following the completion of the transaction, the chief financial officer now owns 71,772 shares in the company, valued at approximately $6,064,734. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $83.53, for a total transaction of $1,670,600.00. Following the completion of the transaction, the director now owns 314,800 shares of the company’s stock, valued at approximately $26,295,244. The disclosure for this sale can be found here. Insiders sold a total of 158,929 shares of company stock valued at $13,181,009 in the last quarter. Insiders own 1.77% of the company’s stock.
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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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