Gulf International Bank UK Ltd Sells 500 Shares of ResMed Inc. (NYSE:RMD)

by · The Cerbat Gem

Gulf International Bank UK Ltd cut its stake in ResMed Inc. (NYSE:RMD – Free Report) by 4.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,615 shares of the medical equipment provider’s stock after selling 500 shares during the quarter. Gulf International Bank UK Ltd’s holdings in ResMed were worth $2,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RMD. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in ResMed by 24.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after acquiring an additional 35,273 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in ResMed by 8.8% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 171,632 shares of the medical equipment provider’s stock valued at $37,586,000 after buying an additional 13,894 shares in the last quarter. SG Americas Securities LLC grew its holdings in ResMed by 211.1% in the 1st quarter. SG Americas Securities LLC now owns 19,625 shares of the medical equipment provider’s stock valued at $3,886,000 after buying an additional 13,316 shares in the last quarter. iA Global Asset Management Inc. bought a new position in ResMed during the 1st quarter worth $3,055,000. Finally, Versor Investments LP lifted its holdings in shares of ResMed by 327.3% during the second quarter. Versor Investments LP now owns 4,700 shares of the medical equipment provider’s stock worth $900,000 after buying an additional 3,600 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Price Performance

RMD stock opened at $245.63 on Thursday. ResMed Inc. has a 1 year low of $140.81 and a 1 year high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock has a market cap of $36.06 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 1.78 and a beta of 0.69. The company has a 50 day simple moving average of $243.12 and a 200 day simple moving average of $221.39.

ResMed (NYSE:RMD – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company earned $1.64 EPS. ResMed’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that ResMed Inc. will post 9.22 EPS for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 7th. ResMed’s dividend payout ratio is currently 28.08%.

Insider Activity at ResMed

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $248.38, for a total transaction of $3,646,963.54. Following the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at $115,290,296.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $248.38, for a total value of $3,646,963.54. Following the transaction, the chief executive officer now owns 464,169 shares of the company’s stock, valued at $115,290,296.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,260 shares of company stock worth $14,390,487 in the last quarter. 0.71% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on RMD. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. KeyCorp lifted their price target on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Finally, Royal Bank of Canada increased their target price on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average target price of $225.70.

Check Out Our Latest Stock Report on ResMed

ResMed Company Profile

(Free Report)

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.

See Also

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