Nordea Investment Management AB maintained its stake in shares of ResMed Inc. (NYSE:RMD) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,206 shares of the medical equipment provider’s stock at the end of the 2nd quarter. Nordea Investment Management AB’s holdings in ResMed were worth $328,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Creative Planning boosted its holdings in ResMed by 97.1% during the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after acquiring an additional 823 shares during the period. Van ECK Associates Corp boosted its holdings in ResMed by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after acquiring an additional 136 shares during the period. Huntington National Bank purchased a new stake in ResMed during the 2nd quarter valued at about $156,000. Pacer Advisors Inc. boosted its holdings in ResMed by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock valued at $194,000 after acquiring an additional 79 shares during the period. Finally, Nomura Holdings Inc. purchased a new stake in ResMed during the 1st quarter valued at about $201,000. Institutional investors own 60.08% of the company’s stock.
In related news, Director Richard Sulpizio sold 24,390 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $73.85, for a total value of $1,801,201.50. Following the completion of the sale, the director now owns 28,819 shares in the company, valued at $2,128,283.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $77.49, for a total value of $96,862.50. Following the completion of the sale, the chief financial officer now owns 59,258 shares of the company’s stock, valued at approximately $4,591,902.42. The disclosure for this sale can be found here. Insiders sold 114,372 shares of company stock valued at $8,662,032 in the last quarter. 1.77% of the stock is owned by company insiders.
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ResMed Inc. (NYSE:RMD) opened at 76.21 on Wednesday. The stock has a 50 day moving average price of $77.33 and a 200 day moving average price of $74.09. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 31.75 and a beta of 0.77. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $81.87.
ResMed (NYSE:RMD) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The business had revenue of $556.69 million during the quarter, compared to analyst estimates of $557.68 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts anticipate that ResMed Inc. will post $3.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were issued a $0.35 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.84%. ResMed’s payout ratio is presently 58.09%.
Several equities research analysts recently weighed in on the company. Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a report on Tuesday, August 8th. Zacks Investment Research cut ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. BMO Capital Markets increased 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. Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, BidaskClub cut ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $68.50.
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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