Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 17.03MM shares of ResMed Inc. (RMD). This represents 11.63% of the company.
In their previous filing dated February 10, 2022 they reported 16.12MM shares and 11.06% of the company, an increase in shares of 5.64% and an increase in total ownership of 0.57% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 18.90% Upside
As of February 9, 2023, the average one-year price target for ResMed is $262.72. The forecasts range from a low of $221.19 to a high of $294.00. The average price target represents an increase of 18.90% from its latest reported closing price of $220.96.
The projected annual revenue for ResMed is $4,021MM, an increase of 6.85%. The projected annual EPS is $6.55, an increase of 18.43%.
What is the Fund Sentiment?
There are 1372 funds or institutions reporting positions in ResMed. This is a decrease of 45 owner(s) or 3.18% in the last quarter. Average portfolio weight of all funds dedicated to RMD is 0.28%, an increase of 0.02%. Total shares owned by institutions decreased in the last three months by 1.56% to 107,176K shares. The put/call ratio of RMD is 0.68, indicating a bullish outlook.
What are large shareholders doing?
Capital World Investors holds 4,922K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 4,487K shares, representing an increase of 8.84%. The firm increased its portfolio allocation in RMD by 20.72% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,365K shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 4,308K shares, representing an increase of 1.31%. The firm increased its portfolio allocation in RMD by 9.99% over the last quarter.
Wcm Investment Management holds 3,833K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 5,817K shares, representing a decrease of 51.77%. The firm decreased its portfolio allocation in RMD by 41.66% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 3,374K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 3,368K shares, representing an increase of 0.21%. The firm increased its portfolio allocation in RMD by 9.10% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,319K shares representing 2.26% ownership of the company. In it's prior filing, the firm reported owning 3,238K shares, representing an increase of 2.43%. The firm increased its portfolio allocation in RMD by 10.37% over the last quarter.
ResMed Declares $0.44 Dividend
On January 26, 2023 the company declared a regular quarterly dividend of $0.44 per share ($1.76 annualized). Shareholders of record as of February 8, 2023 will receive the payment on March 16, 2023. Previously, the company paid $0.44 per share.
At the current share price of $220.96 / share, the stock's dividend yield is 0.80%. Looking back five years and taking a sample every week, the average dividend yield has been 0.99%, the lowest has been 0.58%, and the highest has been 1.62%. The standard deviation of yields is 0.29 (n=236).
The current dividend yield is 0.67 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.32. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.
Resmed Background Information
(This description is provided by the company.)
ResMed pioneers innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Its comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, the company improves quality of life, reduces the impact of chronic disease, and lowers costs for consumers and healthcare systems in more than 140 countries.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
