Tredje AP fonden reduced its holdings in shares of ResMed Inc. (NYSE:RMD) by 43.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,700 shares of the medical equipment provider’s stock after selling 16,640 shares during the quarter. Tredje AP fonden’s holdings in ResMed were worth $1,690,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its holdings in shares of ResMed by 26.6% in the 1st quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after purchasing an additional 324 shares during the last quarter. Creative Planning lifted its holdings in shares of ResMed by 97.1% in the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after purchasing an additional 823 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of ResMed by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after purchasing an additional 136 shares during the last quarter. Huntington National Bank purchased a new stake in shares of ResMed in the 2nd quarter valued at about $156,000. Finally, Morgan Dempsey Capital Management LLC lifted its holdings in shares of ResMed by 2.3% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 50 shares during the last quarter. 60.25% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on RMD. Credit Suisse Group downgraded ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Zacks Investment Research downgraded ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets boosted their target price on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. Finally, Bank of America Corporation downgraded ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. ResMed currently has an average rating of “Hold” and an average price target of $67.86.
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ResMed Inc. (NYSE RMD) opened at 81.38 on Tuesday. The firm has a market cap of $11.57 billion, a PE ratio of 33.91 and a beta of 0.79. The firm’s 50-day moving average price is $75.31 and its 200 day moving average price is $73.08. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $81.87.
ResMed (NYSE:RMD) last released its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, equities analysts anticipate that ResMed Inc. will post $3.03 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Tuesday, August 15th. This is a boost from ResMed’s previous quarterly dividend of $0.33. ResMed’s payout ratio is 58.09%.
In other news, insider Jr. Gregor K. Emmert bought 424,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were purchased at an average price of $0.06 per share, with a total value of $25,440.00. Also, Director Richard Sulpizio sold 65,887 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total value of $5,127,326.34. Following the sale, the director now directly owns 4,429 shares in the company, valued at approximately $344,664.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 204,649 shares of company stock worth $15,635,958. Corporate insiders own 1.97% of the company’s stock.
ResMed Company Profile
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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