Amundi, a French asset management company, has reduced its stake in ResMed Inc. by 9.7% during the fourth quarter of 2020. This follows Amundi’s most recent filing with the Securities and Exchange Commission (SEC) which revealed that the fund owned 777,595 shares of ResMed at the end of Q4, selling 83,808 shares during the period. The value of these shares was worth $166,817,000.
ResMed is a medical equipment provider known for its development of cloud-connected devices to treat sleep apnea and other respiratory diseases. The company has recently disclosed a quarterly dividend to shareholders which is set to be paid on Thursday, June 15th. Stockholders who had ownership on or before May 11th will receive $0.44 per share in dividends. For perspective, this equates to an annualized dividend of $1.76 with a yield of around 0.82%. The ex-dividend date for this dividend is Wednesday, May 10th.
RMD has recently been the subject of several analyst reports. UBS Group initiated coverage on shares of ResMed in a research report on Monday, May 22nd where they gave the stock a “buy” rating and set the price target at $290 per share for investors looking to purchase these stocks – their general consensus at present time for this stock being “moderate buy”. Meanwhile, StockNews.com upgraded their rating from “hold” to “buy” indicating an increased level of confidence while holding RMD Shares alongside Mizuho’s initiation coverage upgrade (April ’13) with analysts recommending buying RMD Stocks whilst having issued it a recommendation rating.
ResMed’s dividend payout ratio is currently sitting at around slightly below thirty percent (29.98%). In conclusion therefore based any wise investor might recommend those interested parties seeking reputable healthcare investment opportunities should take note of Amundi’s recent sale of ResMed stocks and further consider analysts recommendations to do as Mizuho suggests and buy these healthcare stocks!
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Institutional Investors Boost Stakes in ResMed as Company Sees Positive Growth and Promising Prospects
ResMed, a leading medical equipment provider with a market cap of $31.55 billion, has recently witnessed activity from several institutional investors, according to recent filings with the Securities and Exchange Commission (SEC). Cambridge Investment Research Advisors Inc. boosted its position in ResMed by 15.7% during the first quarter and now owns 3,050 shares of the company’s stock valued at $740,000 after buying an additional 414 shares during that period. Cibc World Market Inc. also increased its position in ResMed by 13% during the same time frame and currently owns 1,000 shares of the firm’s stock valued at $243,000 after purchasing an additional 115 shares since March. Vontobel Holding Ltd., boosted its stake in ResMed by 14.5%, and currently holds 8,112 shares of the company’s stock valued at $2,020,000 after purchasing an additional 1,025 shares over the same period. Sei Investments Co. saw an increase of 7.8% in its position and currently holds 40,740 shares of ResMed’s stock worth $9,781,000 after buying an additional 2,955 shares during Q1 as well. Additionally, Prudential PLC purchased a new stake in ResMed during the first quarter worth around $694K.
However, in other news disclosed through filings with SEC website documents on recent activity surrounding shared sales; CEO Michael J Farrell sold off minority stocks amounting to more than one million dollars ($1’174’441) on Wednesday March15th while CFO Brett Sandercock sold three thousand four hundred twenty-six (3’426) stocks for about seven hundred ninety-five thousand dollars ($795’003), less than two months later on Tuesday May9th.
The business most recently found itself geared towards announcing their next quarterly payout set to begin landing on Thursday June15th, with stockholders due to receive $0.44 per share if their records are found by May11th so that they can be included on the dividend list providing their dividends, which will represent a combined annualized total of $1.76 and a yield of 0.82%.
As trading has opened for ResMed at $214.70 as of Tuesday’s opening market, the medical equipment provider maintains promising prospects generating a quick ratio of 1.74 and current ratio at 3.07 to one debt-to-equity while aiming to progress by growing this year’s earnings by projections of 6.48 EPS; prospective investors may find acquiring ResMed shares represents a cautious approach despite a majority ownership percentage dominated through hedge funds and other institutional investors owning approximately 64.73% of the company’s shares at present.
The most recent quarterly earnings results announced in April saw ResMed surpass expectations after releasing the report on Thursday April27th whereby they confirmed having earned revenues totaling $1.12 billion for that quarter compared to analysts’ prediction initially estimating revenues no higher than $1.05 billion suggesting positive growth news ahead for the medical equipment provider as reports indicate its current reinvestment rate aimed at future product development placed Resmed in strong competition amongst its contemporaries. With these newly released figures demonstrating such positive growth reports indicate prudent investments holding positions against potential risks could generate returns over an extended length of time provided prudent consideration is given regarding shareholder’s rights and competitive strains alongside those restrictions put upon it from both regulations and other stakeholders invested within its economic activity sphere.