Huntington National Bank bought a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,000 shares of the medical equipment provider’s stock, valued at approximately $156,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock valued at $959,731,000 after buying an additional 13,094,421 shares in the last quarter. Morgan Stanley boosted its position in ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock worth $96,744,000 after buying an additional 549,279 shares in the last quarter. Vanguard Group Inc. boosted its position in ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock worth $830,225,000 after buying an additional 508,392 shares in the last quarter. WINTON GROUP Ltd acquired a new position in ResMed during the first quarter worth approximately $12,790,000. Finally, National Pension Service boosted its position in ResMed by 37,521.7% in the first quarter. National Pension Service now owns 140,329 shares of the medical equipment provider’s stock worth $10,036,000 after buying an additional 139,956 shares in the last quarter. Institutional investors and hedge funds own 60.68% of the company’s stock.
ResMed Inc. (NYSE:RMD) traded down 0.08% during trading on Friday, reaching $72.56. The company had a trading volume of 427,178 shares. ResMed Inc. has a 52-week low of $56.59 and a 52-week high of $79.63. The company has a market capitalization of $10.32 billion, a PE ratio of 30.23 and a beta of 0.83. The stock has a 50 day moving average price of $76.66 and a 200-day moving average price of $72.21.
ResMed (NYSE:RMD) last released its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The firm had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts anticipate that ResMed Inc. will post $3.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be paid a dividend of $0.35 per share. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.93%. ResMed’s payout ratio is 54.77%.
A number of research analysts recently commented on RMD shares. J P Morgan Chase & Co cut ResMed from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $72.00 to $71.00 in a report on Thursday, April 20th. William Blair reiterated an “outperform” rating on shares of ResMed in a report on Thursday, April 13th. Zacks Investment Research cut ResMed from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. BMO Capital Markets restated a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Finally, Citigroup Inc. cut ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $65.63.
In other news, Director Richard Sulpizio sold 65,887 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $77.82, for a total value of $5,127,326.34. Following the completion of the sale, the director now owns 4,429 shares of the company’s stock, valued at approximately $344,664.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $71.02, for a total transaction of $88,775.00. The disclosure for this sale can be found here. Insiders have sold a total of 204,650 shares of company stock worth $15,516,845 in the last ninety days. 1.97% of the stock is currently owned by insiders.
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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