Chicago Equity Partners LLC cut its holdings in ResMed Inc. (NYSE:RMD) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,590 shares of the medical equipment provider’s stock after selling 6,195 shares during the quarter. Chicago Equity Partners LLC’s holdings in ResMed were worth $1,780,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of RMD. Geode Capital Management LLC raised its position in shares of ResMed by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 2,020,799 shares of the medical equipment provider’s stock worth $229,741,000 after purchasing an additional 131,732 shares during the period. Financial Gravity Wealth Inc. acquired a new position in shares of ResMed during the first quarter worth approximately $51,000. Conning Inc. raised its position in shares of ResMed by 18.7% during the first quarter. Conning Inc. now owns 2,350 shares of the medical equipment provider’s stock worth $244,000 after purchasing an additional 370 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of ResMed during the first quarter worth approximately $202,000. Finally, Ardevora Asset Management LLP raised its position in shares of ResMed by 12.5% during the first quarter. Ardevora Asset Management LLP now owns 371,000 shares of the medical equipment provider’s stock worth $38,573,000 after purchasing an additional 41,100 shares during the period. 66.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently weighed in on RMD. Goldman Sachs Group raised ResMed from a “neutral” rating to a “buy” rating in a research report on Monday, July 29th. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Monday, July 8th. Finally, UBS Group raised ResMed from a “neutral” rating to a “buy” rating and upped their target price for the stock from $122.00 to $140.00 in a research report on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $121.50.
Shares of NYSE:RMD opened at $132.19 on Friday. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 3.23 and a beta of 0.44. The stock’s 50 day moving average is $133.53 and its 200-day moving average is $116.41. ResMed Inc. has a twelve month low of $90.64 and a twelve month high of $141.25. The company has a quick ratio of 1.43, a current ratio of 2.06 and a debt-to-equity ratio of 0.61.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.03. The business had revenue of $705.00 million during the quarter, compared to analyst estimates of $701.56 million. ResMed had a return on equity of 26.49% and a net margin of 15.52%. ResMed’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. Equities research analysts anticipate that ResMed Inc. will post 3.92 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 15th will be given a $0.39 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.37. This represents a $1.56 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Wednesday, August 14th. ResMed’s dividend payout ratio is presently 42.86%.
In related news, Director Ronald R. Taylor sold 4,429 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $136.34, for a total value of $603,849.86. Following the completion of the sale, the director now directly owns 19,855 shares of the company’s stock, valued at approximately $2,707,030.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Brett Sandercock sold 3,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $139.21, for a total value of $417,630.00. Following the completion of the sale, the chief financial officer now directly owns 76,145 shares of the company’s stock, valued at $10,600,145.45. The disclosure for this sale can be found here. Insiders sold a total of 74,324 shares of company stock valued at $9,606,306 over the last three months. 1.24% of the stock is currently owned by insiders.
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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