Los Angeles Capital Management & Equity Research Inc. bought a new stake in ResMed Inc. (NYSE:RMD) during the second quarter, Holdings Channel reports. The firm bought 9,790 shares of the company’s stock, valued at approximately $619,000.

A number of other institutional investors have also recently bought and sold shares of the company. Glenmede Trust Co. NA raised its position in ResMed by 7.3% in the second quarter. Glenmede Trust Co. NA now owns 2,625 shares of the company’s stock valued at $165,000 after buying an additional 179 shares during the last quarter. Wright Investors Service Inc. purchased a new position in ResMed during the second quarter valued at about $233,000. CIBC World Markets Inc. purchased a new position in ResMed during the first quarter valued at about $264,000. BB&T Securities LLC purchased a new position in ResMed during the first quarter valued at about $268,000. Finally, Financial Architects Inc raised its position in ResMed by 13.8% in the second quarter. Financial Architects Inc now owns 4,550 shares of the company’s stock valued at $288,000 after buying an additional 550 shares during the last quarter. 61.07% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Inc. (NYSE:RMD) traded up 0.45% on Thursday, reaching $64.09. The company had a trading volume of 546,109 shares. The stock has a 50 day moving average of $67.70 and a 200 day moving average of $61.98. The firm has a market capitalization of $9.02 billion, a PE ratio of 25.74 and a beta of 0.71. ResMed Inc. has a 12 month low of $49.11 and a 12 month high of $70.90.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.74. ResMed had a return on equity of 23.89% and a net margin of 18.63%. The firm earned $518.60 million during the quarter, compared to the consensus estimate of $512.37 million. During the same quarter in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, analysts anticipate that ResMed Inc. will post $2.88 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th will be given a $0.33 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, August 16th. This represents a $1.32 annualized dividend and a dividend yield of 2.07%. ResMed’s dividend payout ratio is presently 54.32%.

RMD has been the topic of several research reports. Jefferies Group increased their target price on ResMed from $56.00 to $60.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Canaccord Genuity reissued a “hold” rating and set a $57.00 target price on shares of ResMed in a research note on Monday, July 25th. Bank of America Corp. reaffirmed a “hold” rating and issued a $65.00 price target on shares of ResMed in a research report on Sunday, July 10th. Finally, JPMorgan Chase & Co. lowered ResMed from an “overweight” rating to a “neutral” rating in a research report on Monday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of C$58.60.

In other news, insider David Pendarvis sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of C$63.62, for a total value of C$381,720.00. Following the completion of the sale, the insider now owns 80,512 shares of the company’s stock, valued at C$5,122,173.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald R. Taylor bought 2,487 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was bought at an average cost of C$69.13 per share, with a total value of C$171,926.31. Following the transaction, the director now directly owns 16,729 shares of the company’s stock, valued at C$1,156,475.77. The disclosure for this purchase can be found here. 2.54% of the stock is owned by insiders.

About ResMed

ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.

5 Day Chart for NYSE:RMD

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