Eqis Capital Management Inc. lifted its stake in shares of ResMed Inc. (NYSE:RMD) by 100.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,135 shares of the medical equipment provider’s stock after acquiring an additional 3,579 shares during the quarter. Eqis Capital Management Inc.’s holdings in ResMed were worth $742,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Retirement Systems of Alabama boosted its stake in shares of ResMed by 312.5% during the 4th quarter. Retirement Systems of Alabama now owns 271,524 shares of the medical equipment provider’s stock worth $30,918,000 after acquiring an additional 205,700 shares in the last quarter. LaFleur & Godfrey LLC boosted its stake in ResMed by 2.5% during the 1st quarter. LaFleur & Godfrey LLC now owns 60,651 shares of the medical equipment provider’s stock valued at $6,306,000 after purchasing an additional 1,501 shares during the period. Hsbc Holdings PLC boosted its stake in ResMed by 28.4% during the 4th quarter. Hsbc Holdings PLC now owns 129,061 shares of the medical equipment provider’s stock valued at $14,661,000 after purchasing an additional 28,515 shares during the period. Oakbrook Investments LLC bought a new stake in ResMed during the 4th quarter valued at approximately $851,000. Finally, Chicago Equity Partners LLC boosted its stake in ResMed by 503.8% during the 4th quarter. Chicago Equity Partners LLC now owns 58,930 shares of the medical equipment provider’s stock valued at $6,710,000 after purchasing an additional 49,170 shares during the period. Institutional investors own 68.12% of the company’s stock.
Shares of NYSE:RMD opened at $99.22 on Monday. ResMed Inc. has a twelve month low of $90.64 and a twelve month high of $118.50. The company has a market cap of $14.22 billion, a P/E ratio of 28.11, a price-to-earnings-growth ratio of 2.64 and a beta of 0.58. 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 announced its earnings results on Thursday, January 24th. The medical equipment provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. ResMed had a return on equity of 26.53% and a net margin of 18.34%. The firm had revenue of $651.10 million during the quarter, compared to the consensus estimate of $676.77 million. During the same quarter in the prior year, the company earned $1.00 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities research analysts forecast that ResMed Inc. will post 3.55 earnings per share for the current fiscal year.
Several brokerages recently weighed in on RMD. Zacks Investment Research downgraded ResMed from a “hold” rating to a “sell” rating in a research note on Friday, March 29th. JPMorgan Chase & Co. upgraded ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price for the company in a research note on Thursday. Goldman Sachs Group downgraded ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, January 25th. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. ResMed presently has a consensus rating of “Buy” and a consensus price target of $110.33.
In other ResMed news, CFO Brett Sandercock sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 30th. The stock was sold at an average price of $92.30, for a total value of $276,900.00. Following the completion of the transaction, the chief financial officer now owns 91,390 shares of the company’s stock, valued at approximately $8,435,297. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert Andrew Douglas sold 4,285 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $102.29, for a total value of $438,312.65. Following the completion of the transaction, the insider now directly owns 48,604 shares of the company’s stock, valued at approximately $4,971,703.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,759 shares of company stock valued at $7,723,835. Insiders own 1.24% of the company’s stock.
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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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