BB&T Investment Services Inc. bought a new stake in shares of ResMed Inc. (NYSE:RMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,660 shares of the medical equipment provider’s stock, valued at approximately $214,000.
A number of other large investors have also recently bought and sold shares of RMD. UBS Asset Management Americas Inc. raised its holdings in shares of ResMed by 10.6% in the first quarter. UBS Asset Management Americas Inc. now owns 411,891 shares of the medical equipment provider’s stock worth $29,644,000 after buying an additional 39,450 shares during the last quarter. Sei Investments Co. raised its holdings in shares of ResMed by 273.7% in the first quarter. Sei Investments Co. now owns 6,817 shares of the medical equipment provider’s stock worth $490,000 after buying an additional 4,993 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of ResMed by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 9,827 shares of the medical equipment provider’s stock worth $708,000 after buying an additional 1,021 shares during the last quarter. Pacer Advisors Inc. raised its holdings 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 during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of ResMed by 6.8% in the first quarter. Prudential Financial Inc. now owns 87,731 shares of the medical equipment provider’s stock worth $6,314,000 after buying an additional 5,556 shares during the last quarter. 60.08% of the stock is owned by institutional investors.
In related news, insider David Pendarvis sold 6,364 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $72.10, for a total value of $458,844.40. Following the completion of the sale, the insider now owns 84,476 shares in the company, valued at approximately $6,090,719.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Sulpizio sold 24,390 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $73.85, for a total transaction of $1,801,201.50. Following the completion of the sale, the director now owns 28,819 shares of the company’s stock, valued at approximately $2,128,283.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,232 shares of company stock valued at $8,109,182. 1.77% of the stock is owned by insiders.
A number of research analysts have issued reports on RMD shares. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Friday, September 8th. Zacks Investment Research raised shares of ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Thursday, July 6th. BidaskClub raised shares of ResMed from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 17th. Barclays PLC raised their price target on shares of ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Finally, Bank of America Corporation cut shares of ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. ResMed presently has a consensus rating of “Hold” and an average target price of $68.33.
Shares of ResMed Inc. (NYSE:RMD) traded up 0.10% on Friday, hitting $77.67. 161,554 shares of the company traded hands. The company has a market capitalization of $11.05 billion, a PE ratio of 32.36 and a beta of 0.77. The stock’s 50-day moving average price is $77.49 and its 200-day moving average price is $74.13. ResMed Inc. has a 12 month low of $56.59 and a 12 month high of $81.87.
ResMed (NYSE:RMD) last released its quarterly earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating 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 firm had revenue of $556.69 million during the quarter, compared to the consensus estimate of $557.68 million. During the same quarter in the prior year, the firm earned $0.74 EPS. ResMed’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that ResMed Inc. will post $3.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 21st. Investors of record on Thursday, August 17th were given a $0.35 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.80%. ResMed’s dividend payout ratio is 58.09%.
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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