QS Investors LLC Has $4.52 Million Position in ResMed Inc. (RMD)
QS Investors LLC increased its stake in shares of ResMed Inc. (NYSE:RMD) by 105.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 39,719 shares of the medical equipment provider’s stock after acquiring an additional 20,357 shares during the quarter. QS Investors LLC’s holdings in ResMed were worth $4,523,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc increased its stake in ResMed by 0.5% during the third quarter. Vanguard Group Inc now owns 14,567,805 shares of the medical equipment provider’s stock worth $1,680,251,000 after acquiring an additional 69,129 shares during the last quarter. BlackRock Inc. increased its stake in ResMed by 5.2% during the fourth quarter. BlackRock Inc. now owns 11,764,243 shares of the medical equipment provider’s stock worth $1,339,597,000 after acquiring an additional 583,831 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in ResMed by 15,868.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,275,028 shares of the medical equipment provider’s stock worth $46,000 after acquiring an additional 5,241,994 shares during the last quarter. Baillie Gifford & Co. increased its stake in ResMed by 0.3% during the third quarter. Baillie Gifford & Co. now owns 4,841,478 shares of the medical equipment provider’s stock worth $558,416,000 after acquiring an additional 14,627 shares during the last quarter. Finally, WCM Investment Management LLC acquired a new stake in ResMed during the fourth quarter worth $492,415,000. 67.32% of the stock is owned by institutional investors.
RMD has been the subject of several recent analyst reports. Deutsche Bank cut ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Goldman Sachs Group cut ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. BMO Capital Markets raised ResMed from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $109.00 to $127.00 in a research note on Monday, December 10th. Finally, JPMorgan Chase & Co. cut ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 target price for the company. in a research note on Friday, January 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $113.20.
Shares of NYSE RMD opened at $100.37 on Friday. ResMed Inc. has a twelve month low of $90.64 and a twelve month high of $118.50. The company has a quick ratio of 1.76, a current ratio of 2.44 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $14.38 billion, a PE ratio of 28.43, a PEG ratio of 2.73 and a beta of 0.58.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.05. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The business had revenue of $651.10 million during the quarter, compared to analysts’ expectations of $676.77 million. During the same period in the previous year, the firm posted $1.00 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that ResMed Inc. will post 3.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 7th were paid a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 6th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.47%. ResMed’s payout ratio is presently 41.93%.
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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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