Schwab Charles Investment Management Inc. Has $50.87 Million Holdings in ResMed Inc. (RMD)
Schwab Charles Investment Management Inc. raised its holdings in ResMed Inc. (NYSE:RMD) by 47.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 660,980 shares of the medical equipment provider’s stock after acquiring an additional 214,122 shares during the period. Schwab Charles Investment Management Inc. owned 0.47% of ResMed worth $50,870,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of ResMed by 38.2% during the 2nd quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock worth $431,601,000 after buying an additional 1,531,772 shares during the last quarter. Koch Industries Inc. increased its holdings in shares of ResMed by 17,065.2% during the 2nd quarter. Koch Industries Inc. now owns 985,796 shares of the medical equipment provider’s stock worth $973,000 after buying an additional 980,053 shares during the last quarter. BlackRock Inc. increased its holdings in shares of ResMed by 6.8% during the 2nd quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock worth $1,108,877,000 after buying an additional 904,939 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of ResMed by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock worth $927,797,000 after buying an additional 378,964 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of ResMed by 191.8% during the 2nd quarter. First Trust Advisors LP now owns 350,012 shares of the medical equipment provider’s stock worth $27,255,000 after buying an additional 230,056 shares during the last quarter. Institutional investors own 62.02% of the company’s stock.
Shares of ResMed Inc. (RMD) traded up $0.78 during trading on Wednesday, reaching $84.35. 588,400 shares of the company were exchanged, compared to its average volume of 854,959. The company has a current ratio of 4.72, a quick ratio of 3.86 and a debt-to-equity ratio of 0.50. ResMed Inc. has a 12-month low of $58.71 and a 12-month high of $87.81. The stock has a market cap of $11,858.91, a PE ratio of 29.12, a price-to-earnings-growth ratio of 1.86 and a beta of 0.78.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The firm had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $506.08 million. During the same period in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. analysts predict that ResMed Inc. will post 3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 9th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $1.40 dividend on an annualized basis and a yield of 1.66%. ResMed’s dividend payout ratio (DPR) is 56.68%.
A number of analysts have recently commented on the company. Jefferies Group restated a “sell” rating and set a $56.00 price objective on shares of ResMed in a report on Thursday, October 12th. Needham & Company LLC restated a “sell” rating on shares of ResMed in a report on Friday, September 8th. BMO Capital Markets upped their price objective on ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Thursday, October 12th. Finally, Barclays upped their price objective on ResMed from $68.00 to $70.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.57.
In other ResMed news, insider David Pendarvis sold 6,364 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $76.94, for a total value of $489,646.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $77.05, for a total transaction of $96,312.50. Following the completion of the transaction, the chief financial officer now directly owns 64,691 shares of the company’s stock, valued at $4,984,441.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,693 shares of company stock valued at $15,149,955. 1.77% of the stock is owned by corporate insiders.
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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