Liberty Mutual Group Asset Management Inc. Trims Holdings in ResMed Inc. (RMD)
Liberty Mutual Group Asset Management Inc. trimmed its position in shares of ResMed Inc. (NYSE:RMD) by 85.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,668 shares of the medical equipment provider’s stock after selling 32,400 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in ResMed were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. OppenheimerFunds Inc. bought a new position in ResMed during the fourth quarter valued at $349,000. Norinchukin Bank The grew its holdings in ResMed by 6.8% during the fourth quarter. Norinchukin Bank The now owns 11,935 shares of the medical equipment provider’s stock valued at $1,011,000 after purchasing an additional 761 shares during the period. American International Group Inc. grew its holdings in ResMed by 11.0% during the fourth quarter. American International Group Inc. now owns 50,242 shares of the medical equipment provider’s stock valued at $4,255,000 after purchasing an additional 4,971 shares during the period. Schroder Investment Management Group grew its holdings in ResMed by 419.7% during the fourth quarter. Schroder Investment Management Group now owns 150,200 shares of the medical equipment provider’s stock valued at $12,720,000 after purchasing an additional 121,300 shares during the period. Finally, Arizona State Retirement System grew its holdings in ResMed by 4.2% during the fourth quarter. Arizona State Retirement System now owns 112,400 shares of the medical equipment provider’s stock valued at $9,519,000 after purchasing an additional 4,577 shares during the period. 60.46% of the stock is owned by institutional investors and hedge funds.
Shares of ResMed Inc. (RMD) opened at $94.92 on Friday. The stock has a market capitalization of $13,566.63, a price-to-earnings ratio of 30.23 and a beta of 0.94. ResMed Inc. has a 12-month low of $67.04 and a 12-month high of $104.78.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 8th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.40 annualized dividend and a dividend yield of 1.47%. ResMed’s dividend payout ratio is currently 70.00%.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $84.99, for a total transaction of $106,237.50. Following the sale, the chief financial officer now owns 78,322 shares in the company, valued at $6,656,586.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Hollingshead sold 600 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $94.01, for a total value of $56,406.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,133 shares of company stock worth $4,370,554. Company insiders own 1.77% of the company’s stock.
Several equities analysts have weighed in on RMD shares. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Tuesday, February 20th. BMO Capital Markets increased their price objective on ResMed to $90.00 and gave the company a “market perform” rating in a report on Tuesday, January 23rd. Finally, Macquarie lowered ResMed from a “neutral” rating to a “sell” rating in a report on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. ResMed has a consensus rating of “Hold” and an average target price of $75.17.
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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