2,000 Shares in ResMed Inc. (NYSE:RMD) Acquired by Huntington National Bank

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%.

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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.

Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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