Eagle Asset Management Inc. Lowers Holdings in ResMed Inc. (NYSE:RMD)

Eagle Asset Management Inc. decreased its stake in shares of ResMed Inc. (NYSE:RMD) by 0.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 410,322 shares of the medical equipment provider’s stock after selling 183 shares during the quarter. Eagle Asset Management Inc. owned about 0.28% of ResMed worth $101,152,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC raised its stake in shares of ResMed by 2.7% in the second quarter. Parallel Advisors LLC now owns 1,651 shares of the medical equipment provider’s stock worth $407,000 after purchasing an additional 43 shares during the last quarter. Commerce Bank increased its position in ResMed by 1.6% during the second quarter. Commerce Bank now owns 3,293 shares of the medical equipment provider’s stock valued at $812,000 after acquiring an additional 51 shares during the last quarter. ICW Investment Advisors LLC increased its position in ResMed by 0.5% during the first quarter. ICW Investment Advisors LLC now owns 10,428 shares of the medical equipment provider’s stock valued at $2,023,000 after acquiring an additional 54 shares during the last quarter. Quadrant Capital Group LLC increased its position in ResMed by 5.4% during the first quarter. Quadrant Capital Group LLC now owns 1,078 shares of the medical equipment provider’s stock valued at $209,000 after acquiring an additional 55 shares during the last quarter. Finally, Copeland Capital Management LLC increased its position in ResMed by 1.0% during the second quarter. Copeland Capital Management LLC now owns 6,437 shares of the medical equipment provider’s stock valued at $1,587,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 65.58% of the company’s stock.

In related news, insider David Pendarvis sold 1,487 shares of the business’s stock in a transaction on Tuesday, July 6th. The shares were sold at an average price of $247.12, for a total transaction of $367,467.44. Following the completion of the transaction, the insider now owns 124,900 shares in the company, valued at $30,865,288. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Rajwant Sodhi sold 1,500 shares of the company’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $245.72, for a total transaction of $368,580.00. Following the completion of the transaction, the insider now owns 25,665 shares of the company’s stock, valued at approximately $6,306,403.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 57,010 shares of company stock worth $15,353,594. Insiders own 1.33% of the company’s stock.

RMD has been the subject of several recent research reports. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating and set a $306.00 price target for the company. in a report on Tuesday, August 10th. Royal Bank of Canada upped their price objective on ResMed from $223.00 to $238.00 and gave the stock an “underperform” rating in a research note on Tuesday, July 27th. Jefferies Financial Group raised ResMed from an “underperform” rating to a “hold” rating and upped their price objective for the stock from $170.00 to $240.00 in a research note on Wednesday, July 28th. lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 28th. Finally, Bank of America lowered ResMed from a “neutral” rating to an “underperform” rating and upped their price objective for the stock from $216.00 to $221.00 in a research note on Wednesday, June 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $248.67.

NYSE RMD opened at $284.23 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.23 and a current ratio of 1.73. ResMed Inc. has a fifty-two week low of $165.72 and a fifty-two week high of $301.34. The stock has a 50-day simple moving average of $276.96 and a two-hundred day simple moving average of $232.81. The firm has a market capitalization of $41.41 billion, a P/E ratio of 87.73, a PEG ratio of 3.14 and a beta of 0.30.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 5th. The medical equipment provider reported $1.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.10. The company had revenue of $876.10 million for the quarter, compared to analysts’ expectations of $781.10 million. ResMed had a return on equity of 28.03% and a net margin of 14.84%. During the same period in the previous year, the firm posted $1.33 EPS. As a group, analysts forecast that ResMed Inc. will post 6.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Thursday, August 19th will be issued a dividend of $0.42 per share. This is a boost from ResMed’s previous quarterly dividend of $0.39. This represents a $1.68 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Wednesday, August 18th. ResMed’s payout ratio is currently 31.52%.

ResMed Profile

ResMed, Inc engages in the development, manufacturing, distribution, and marketing of medical equipment and software solutions. It operates through the Sleep and Respiratory Care, and Software as a Service segments. The Sleep and Respiratory Care segment engages in the sleep and respiratory disorders sector of the medical device industry.

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Institutional Ownership by Quarter for ResMed (NYSE:RMD)

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