Huntington National Bank acquired a new position in ResMed Inc. (NYSE:RMD) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,000 shares of the medical equipment provider’s stock, valued at approximately $156,000.
Several other hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank boosted its stake in shares of ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock worth $111,000 after buying an additional 324 shares during the period. Creative Planning raised its position in shares of ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 823 shares in the last quarter. Van ECK Associates Corp raised its position in shares of ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock worth $140,000 after buying an additional 136 shares in the last quarter. Morgan Dempsey Capital Management LLC raised its position in shares of ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 50 shares in the last quarter. Finally, Pacer Advisors Inc. raised its position in shares of ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 79 shares in the last quarter. 60.66% of the stock is owned by hedge funds and other institutional investors.
ResMed Inc. (NYSE RMD) traded up 0.38% during mid-day trading on Friday, reaching $73.07. 529,536 shares of the company were exchanged. The firm has a market capitalization of $10.39 billion, a P/E ratio of 30.45 and a beta of 0.83. The stock has a 50-day moving average of $75.87 and a 200 day moving average of $72.42. ResMed Inc. has a 1-year low of $56.59 and a 1-year high of $79.63.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.02. The company had revenue of $556.69 million during 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%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. Equities research analysts forecast that ResMed Inc. will post $3.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be issued a $0.35 dividend. This is a positive change from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. ResMed’s dividend payout ratio is 58.09%.
Several research firms have commented on RMD. BMO Capital Markets reiterated a “hold” rating on shares of ResMed in a research report on Friday, May 12th. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Credit Suisse Group downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. Jefferies Group LLC reaffirmed a “sell” rating and issued a $56.00 price target on shares of ResMed in a research note on Friday, April 28th. Finally, Citigroup Inc. raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, August 2nd. 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 stock. The stock has a consensus rating of “Hold” and an average price target of $65.63.
In other news, insider David Pendarvis sold 6,364 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $77.36, for a total transaction of $492,319.04. Following the sale, the insider now directly owns 84,476 shares of the company’s stock, valued at $6,535,063.36. The sale was disclosed in a legal filing 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 on Thursday, June 1st. The stock was sold at an average price of $71.02, for a total value of $88,775.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 204,650 shares of company stock valued at $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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