Hudson Valley Investment Advisors Inc. ADV raised its stake in ResMed Inc. (NYSE:RMD) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,564 shares of the medical equipment provider’s stock after buying an additional 245 shares during the period. ResMed comprises 1.5% of Hudson Valley Investment Advisors Inc. ADV’s investment portfolio, making the stock its 13th largest position. Hudson Valley Investment Advisors Inc. ADV’s holdings in ResMed were worth $5,547,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of RMD. BlackRock Inc. boosted its position in 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 during 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 valued at $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 valued at $830,225,000 after buying an additional 508,392 shares in the last quarter. WINTON GROUP Ltd bought a new position in ResMed during the first quarter valued at 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 valued at $10,036,000 after buying an additional 139,956 shares in the last quarter. Hedge funds and other institutional investors own 60.68% of the company’s stock.
ResMed Inc. (NYSE:RMD) opened at 72.56 on Friday. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 30.23 and a beta of 0.83. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $79.63. The stock’s 50 day moving average is $76.52 and its 200-day moving average is $72.27.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, topping the 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 business had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. During the same quarter in the previous year, the company earned $0.74 EPS. The business’s revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that ResMed Inc. will post $3.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This is a positive change from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.93%. ResMed’s payout ratio is 54.77%.
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RMD has been the topic of several research analyst reports. J P Morgan Chase & Co cut shares of ResMed from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $72.00 to $71.00 in a report on Thursday, April 20th. Jefferies Group LLC restated a “sell” rating and set a $56.00 price target on shares of ResMed in a report on Friday, April 28th. Citigroup Inc. lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Finally, BidaskClub raised shares of ResMed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Four 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 company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.63.
In other news, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $71.02, for a total value of $88,775.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David Pendarvis sold 6,365 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $72.62, for a total transaction of $462,226.30. Following the completion of the transaction, the insider now owns 84,477 shares in the company, valued at approximately $6,134,719.74. 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 over 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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