Robeco Institutional Asset Management B.V. lifted its stake in ResMed Inc. (NYSE:RMD) by 117.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,217 shares of the medical equipment provider’s stock after buying an additional 44,399 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of ResMed worth $9,481,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in ResMed during the 2nd quarter valued at $131,000. Qube Research & Technologies Ltd acquired a new stake in ResMed during the 2nd quarter valued at $148,000. Cerebellum GP LLC acquired a new stake in ResMed during the 3rd quarter valued at $186,000. Piedmont Investment Advisors LLC acquired a new stake in ResMed during the 2nd quarter valued at $167,000. Finally, First Hawaiian Bank acquired a new stake in ResMed during the 3rd quarter valued at $201,000. 63.89% of the stock is owned by institutional investors and hedge funds.
RMD has been the subject of a number of recent analyst reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a report on Tuesday, July 10th. Credit Suisse Group raised ResMed from a “neutral” rating to an “outperform” rating in a report on Friday, October 26th. Finally, BMO Capital Markets raised their price target on ResMed from $107.00 to $109.00 and gave the company a “market perform” rating in a report on Friday, October 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $114.50.
NYSE RMD opened at $105.71 on Friday. The firm has a market capitalization of $15.09 billion, a PE ratio of 28.78, a PEG ratio of 2.70 and a beta of 0.97. ResMed Inc. has a 52 week low of $81.52 and a 52 week high of $116.64. The company has a quick ratio of 1.91, a current ratio of 2.58 and a debt-to-equity ratio of 0.27.
ResMed (NYSE:RMD) last released its earnings results on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The company had revenue of $588.28 million during the quarter, compared to analysts’ expectations of $576.66 million. ResMed had a return on equity of 26.29% and a net margin of 13.94%. As a group, equities research analysts expect that ResMed Inc. will post 3.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 13th. Stockholders of record on Thursday, November 8th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 7th. This represents a $1.48 annualized dividend and a dividend yield of 1.40%. ResMed’s dividend payout ratio (DPR) is currently 41.93%.
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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