B & T Capital Management DBA Alpha Capital Management lowered its position in shares of ResMed Inc. (NYSE:RMD) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,739 shares of the medical equipment provider’s stock after selling 903 shares during the period. ResMed makes up approximately 1.3% of B & T Capital Management DBA Alpha Capital Management’s holdings, making the stock its 11th largest position. B & T Capital Management DBA Alpha Capital Management’s holdings in ResMed were worth $2,705,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in ResMed by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 364,186 shares of the medical equipment provider’s stock worth $22,599,000 after buying an additional 6,742 shares during the period. Envestnet Asset Management Inc. increased its stake in ResMed by 28.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 8,806 shares of the medical equipment provider’s stock worth $549,000 after buying an additional 1,952 shares during the period. Numeric Investors LLC increased its stake in ResMed by 10.8% in the fourth quarter. Numeric Investors LLC now owns 8,200 shares of the medical equipment provider’s stock worth $509,000 after buying an additional 800 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of ResMed by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 372,441 shares of the medical equipment provider’s stock valued at $23,110,000 after buying an additional 1,952 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of ResMed by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 42,044 shares of the medical equipment provider’s stock valued at $3,025,000 after buying an additional 725 shares during the period. 60.68% of the stock is owned by hedge funds and other institutional investors.
Shares of ResMed Inc. (NYSE RMD) traded down 0.08% during midday trading on Friday, reaching $72.56. The company’s stock had a trading volume of 427,178 shares. The stock has a 50 day moving average price of $76.66 and a 200-day moving average price of $72.21. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of 30.23 and a beta of 0.83. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $79.63.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The business had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. ResMed’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 EPS. Equities research analysts expect that ResMed Inc. will post $3.03 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.93%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. ResMed’s payout ratio is currently 54.77%.
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Several brokerages have issued reports on RMD. J P Morgan Chase & Co downgraded shares of ResMed from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $72.00 to $71.00 in a research report on Thursday, April 20th. BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, May 12th. Zacks Investment Research cut ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday. Finally, Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $65.63.
In other ResMed news, Director Richard Sulpizio sold 65,887 shares of the business’s stock in a transaction 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 transaction, the director now owns 4,429 shares of the company’s stock, valued at $344,664.78. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Pendarvis sold 6,365 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $72.62, for a total value of $462,226.30. Following the completion of the transaction, the insider now directly owns 84,477 shares in the company, valued at approximately $6,134,719.74. The disclosure for this sale can be found here. In the last three months, insiders sold 204,650 shares of company stock worth $15,516,845. 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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