Robeco Institutional Asset Management B.V. Buys Shares of 10,481 ResMed Inc. (RMD)
Robeco Institutional Asset Management B.V. bought a new stake in shares of ResMed Inc. (NYSE:RMD) during the 4th quarter, HoldingsChannel.com reports. The firm bought 10,481 shares of the medical equipment provider’s stock, valued at approximately $888,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in ResMed during the 3rd quarter valued at $113,000. Toronto Dominion Bank boosted its stake in shares of ResMed by 12.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock worth $135,000 after buying an additional 197 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in shares of ResMed in the 2nd quarter worth $214,000. Visionary Asset Management Inc. purchased a new position in shares of ResMed in the 3rd quarter worth $214,000. Finally, Advisor Group Inc. boosted its stake in shares of ResMed by 26.7% in the 3rd quarter. Advisor Group Inc. now owns 3,164 shares of the medical equipment provider’s stock worth $244,000 after buying an additional 667 shares during the last quarter. Institutional investors and hedge funds own 61.41% of the company’s stock.
In other news, Director Ronald R. Taylor sold 4,885 shares of ResMed stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $99.71, for a total value of $487,083.35. Following the sale, the director now directly owns 21,751 shares of the company’s stock, valued at $2,168,792.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Wareham sold 25,934 shares of ResMed stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $102.25, for a total value of $2,651,751.50. Following the completion of the sale, the director now directly owns 38,934 shares in the company, valued at $3,981,001.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,194 shares of company stock worth $14,615,745. Insiders own 1.77% of the company’s stock.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.22. The business had revenue of $601.27 million for the quarter, compared to analysts’ expectations of $583.77 million. ResMed had a return on equity of 22.75% and a net margin of 12.98%. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. equities analysts anticipate that ResMed Inc. will post 3.34 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.40 dividend on an annualized basis and a yield of 1.47%. ResMed’s dividend payout ratio is presently 70.00%.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $112.00 price target on the stock in a research note on Friday, February 2nd. Needham & Company LLC upgraded ResMed from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 23rd. BMO Capital Markets raised their target price on ResMed to $90.00 and gave the stock a “market perform” rating in a report on Tuesday, January 23rd. Macquarie cut ResMed from a “neutral” rating to a “sell” rating in a report on Tuesday, January 23rd. Finally, Northland Securities raised ResMed from an “under perform” rating to a “market perform” rating in a report on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. ResMed has an average rating of “Hold” and an average price target of $76.00.
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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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