Canandaigua National Bank & Trust Co. decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 16.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,962 shares of the medical equipment provider’s stock after selling 596 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in ResMed were worth $337,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Financial Gravity Companies Inc. bought a new position in shares of ResMed during the 4th quarter worth approximately $34,000. Parallel Advisors LLC boosted its stake in shares of ResMed by 143.0% during the 4th quarter. Parallel Advisors LLC now owns 328 shares of the medical equipment provider’s stock worth $37,000 after acquiring an additional 193 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of ResMed by 15,868.5% during the 4th 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 period. Capital Investment Advisory Services LLC bought a new position in shares of ResMed during the 4th quarter worth approximately $61,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of ResMed by 245.4% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 905 shares of the medical equipment provider’s stock worth $104,000 after acquiring an additional 643 shares during the period. Institutional investors own 68.60% of the company’s stock.
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RMD has been the subject of several research analyst reports. BMO Capital Markets upgraded ResMed from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $109.00 to $127.00 in a research note on Monday, December 10th. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. Credit Suisse Group upgraded ResMed from a “neutral” rating to an “outperform” rating in a research note on Friday, October 26th. JPMorgan Chase & Co. downgraded ResMed from a “neutral” rating to an “underweight” rating and set a $99.60 price target for the company. in a research note on Friday, January 25th. Finally, Deutsche Bank downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $113.20.
RMD opened at $99.44 on Friday. The firm has a market capitalization of $13.93 billion, a P/E ratio of 28.17, a PEG ratio of 2.57 and a beta of 0.54. ResMed Inc. has a 1 year low of $90.64 and a 1 year 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.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.95 by $0.05. The business had revenue of $651.10 million during the quarter, compared to the consensus estimate of $676.77 million. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. On average, research analysts expect that ResMed Inc. will post 3.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 7th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, February 6th. This represents a $1.48 annualized dividend and a yield of 1.49%. ResMed’s dividend payout ratio (DPR) is presently 41.93%.
In related news, insider Robert Andrew Douglas sold 4,193 shares of the business’s stock in a transaction on Monday, December 17th. The stock was sold at an average price of $112.56, for a total value of $471,964.08. Following the completion of the sale, the insider now directly owns 89,605 shares in the company, valued at approximately $10,085,938.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Hollingshead sold 5,893 shares of the business’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $105.52, for a total value of $621,829.36. Following the completion of the sale, the insider now owns 75,121 shares of the company’s stock, valued at $7,926,767.92. The disclosure for this sale can be found here. Insiders sold a total of 53,633 shares of company stock valued at $5,728,098 over the last 90 days. 1.24% of the stock is currently owned by corporate insiders.
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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 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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