Twin Tree Management LP purchased a new stake in ResMed Inc. (NYSE:RMD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,946 shares of the medical equipment provider’s stock, valued at approximately $229,000.
Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank boosted its position in ResMed by 26.6% in the 1st quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares during the period. Creative Planning boosted its position in ResMed by 97.1% in the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 823 shares during the period. Van ECK Associates Corp raised its holdings in shares of ResMed by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after purchasing an additional 136 shares in the last quarter. Huntington National Bank acquired a new stake in shares of ResMed in the 2nd quarter valued at $156,000. Finally, Morgan Dempsey Capital Management LLC raised its holdings in shares of ResMed by 2.3% in the 1st quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 50 shares in the last quarter. 60.14% of the stock is owned by institutional investors.
Several brokerages recently commented on RMD. BMO Capital Markets lifted their price target on shares of ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 2nd. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Credit Suisse Group downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd. Finally, BidaskClub downgraded shares of ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. ResMed presently has an average rating of “Hold” and an average price target of $67.86.
Shares of ResMed Inc. (NYSE RMD) opened at 77.38 on Friday. The stock has a market cap of $11.00 billion, a P/E ratio of 32.24 and a beta of 0.79. ResMed Inc. has a one year low of $56.59 and a one year high of $81.87. The firm has a 50 day moving average of $75.91 and a 200 day moving average of $73.47.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, beating 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 company had revenue of $556.69 million during the quarter, compared to analyst estimates of $557.68 million. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities research analysts predict that ResMed Inc. will post $3.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th were given a dividend of $0.35 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, August 15th. This represents a $1.40 annualized dividend and a dividend yield of 1.81%. ResMed’s dividend payout ratio (DPR) is 58.09%.
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In other ResMed news, insider David Pendarvis sold 6,364 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $77.36, for a total value of $492,319.04. Following the completion of the transaction, the insider now directly owns 84,476 shares in the company, valued at $6,535,063.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brett Sandercock sold 1,250 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $77.44, for a total transaction of $96,800.00. Following the completion of the transaction, the chief financial officer now owns 60,508 shares of the company’s stock, valued at $4,685,739.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,372 shares of company stock valued at $8,654,992. Insiders own 1.97% of the company’s stock.
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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