Private Advisor Group LLC Invests $778,000 in ResMed Inc. (RMD)
Private Advisor Group LLC bought a new stake in ResMed Inc. (NYSE:RMD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,746 shares of the medical equipment provider’s stock, valued at approximately $778,000.
Several other institutional investors have also made changes to their positions in RMD. Los Angeles Capital Management & Equity Research Inc. boosted its position in shares of ResMed by 1,082.0% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 445,260 shares of the medical equipment provider’s stock valued at $46,120,000 after acquiring an additional 407,590 shares during the period. Morgan Stanley boosted its position in shares of ResMed by 30.2% in the second quarter. Morgan Stanley now owns 966,736 shares of the medical equipment provider’s stock valued at $100,135,000 after acquiring an additional 223,963 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of ResMed by 209.7% in the second quarter. Canada Pension Plan Investment Board now owns 260,806 shares of the medical equipment provider’s stock valued at $27,014,000 after acquiring an additional 176,589 shares during the period. NN Investment Partners Holdings N.V. lifted its position in ResMed by 510.1% during the third quarter. NN Investment Partners Holdings N.V. now owns 174,686 shares of the medical equipment provider’s stock worth $20,149,000 after purchasing an additional 146,054 shares during the period. Finally, Standard Life Aberdeen plc lifted its position in ResMed by 499.2% during the second quarter. Standard Life Aberdeen plc now owns 151,243 shares of the medical equipment provider’s stock worth $15,667,000 after purchasing an additional 126,002 shares during the period. 65.61% of the stock is owned by institutional investors.
RMD opened at $101.61 on Wednesday. ResMed Inc. has a twelve month low of $82.81 and a twelve month high of $116.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.58 and a quick ratio of 1.91. The stock has a market cap of $14.62 billion, a P/E ratio of 28.78, a PEG ratio of 2.61 and a beta of 0.97.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Investors of record on Thursday, November 8th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.48 annualized dividend and a yield of 1.46%. ResMed’s dividend payout ratio is 41.93%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. BMO Capital Markets upped their price objective on shares of ResMed from $107.00 to $109.00 and gave the stock a “market perform” rating in a research report on Friday, October 26th. Finally, Credit Suisse Group raised shares of ResMed from a “neutral” rating to an “outperform” rating in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. ResMed currently has a consensus rating of “Hold” and a consensus price target of $114.50.
In other ResMed news, CEO Michael J. Farrell sold 3,300 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $104.49, for a total transaction of $344,817.00. Following the completion of the transaction, the chief executive officer now owns 240,487 shares of the company’s stock, valued at $25,128,486.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Robert Andrew Douglas sold 3,307 shares of the business’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $101.44, for a total value of $335,462.08. Following the transaction, the chief operating officer now directly owns 59,112 shares of the company’s stock, valued at approximately $5,996,321.28. The disclosure for this sale can be found here. Insiders have sold 20,027 shares of company stock valued at $2,136,094 in the last ninety days. 1.24% of the stock is currently owned by company insiders.
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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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