ResMed Inc. (RMD) Shares Bought by BlackRock Advisors LLC
BlackRock Advisors LLC raised its position in shares of ResMed Inc. (NYSE:RMD) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 198,931 shares of the company’s stock after buying an additional 26,863 shares during the period. BlackRock Advisors LLC owned about 0.14% of ResMed worth $12,579,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of RMD. Matthews International Capital Management LLC increased its position in shares of ResMed by 18,735.4% in the first quarter. Matthews International Capital Management LLC now owns 1,224,300 shares of the company’s stock worth $70,789,000 after buying an additional 1,217,800 shares in the last quarter. Vanguard Group Inc. increased its position in shares of ResMed by 10.6% in the second quarter. Vanguard Group Inc. now owns 11,679,325 shares of the company’s stock worth $738,483,000 after buying an additional 1,114,598 shares in the last quarter. Schroder Investment Management Group increased its position in shares of ResMed by 64.7% in the second quarter. Schroder Investment Management Group now owns 1,805,944 shares of the company’s stock worth $114,190,000 after buying an additional 709,333 shares in the last quarter. Panagora Asset Management Inc. increased its position in shares of ResMed by 1,525.7% in the first quarter. Panagora Asset Management Inc. now owns 659,537 shares of the company’s stock worth $38,134,000 after buying an additional 618,968 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of ResMed by 571.8% in the second quarter. Prudential Financial Inc. now owns 581,785 shares of the company’s stock worth $36,787,000 after buying an additional 495,190 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.
ResMed Inc. (NYSE:RMD) opened at 63.91 on Thursday. ResMed Inc. has a 1-year low of $50.77 and a 1-year high of $70.90. The stock has a 50 day moving average price of $66.04 and a 200-day moving average price of $62.42. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 25.67 and a beta of 0.68.
ResMed (NYSE:RMD) last issued its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The business earned $518.60 million during the quarter, compared to the consensus estimate of $512.37 million. During the same period last year, the business posted $0.68 EPS. ResMed’s revenue was up 14.5% on a year-over-year basis. Equities analysts predict that ResMed Inc. will post $2.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were paid a $0.33 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.30. This represents a $1.32 annualized dividend and a yield of 2.07%. The ex-dividend date was Tuesday, August 16th. ResMed’s dividend payout ratio (DPR) is 54.32%.
RMD has been the topic of a number of research analyst reports. Bank of America Corp. reiterated a “hold” rating and set a $65.00 price target on shares of ResMed in a report on Sunday, July 10th. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. JPMorgan Chase & Co. cut ResMed from an “overweight” rating to a “neutral” rating in a research report on Monday, September 19th. Needham & Company LLC cut ResMed from a “hold” rating to an “underperform” rating in a research report on Monday, June 27th. Finally, Jefferies Group cut ResMed from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $60.00 to $58.00 in a research report on Tuesday, August 23rd. Five research 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$59.73.
In related news, insider James Hollingshead sold 2,753 shares of the firm’s stock in a transaction dated Thursday, July 14th. The shares were sold at an average price of C$65.02, for a total value of C$179,000.06. Following the completion of the sale, the insider now directly owns 40,669 shares in the company, valued at approximately C$2,644,298.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael J. Farrell sold 5,975 shares of the firm’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of C$65.03, for a total transaction of C$388,554.25. Following the completion of the sale, the chief executive officer now owns 154,814 shares of the company’s stock, valued at C$10,067,554.42. The disclosure for this sale can be found here. 1.97% of the stock is currently owned by corporate insiders.
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.
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